NY steak shortage

Filet Mignon
2007/08/08 09:50:06
According to todays NY sun www.nysun.com there appears to be a shortage in prime beef. The article states that only 2.5% of beef produced in the US is considered prime.

The blame is being placed on corn shortages due to alternative fuel.
It's a never ending circle. Dairy products, milk and cheese and so forth have all seen a spike in prices. You think there might be some price gouging going on? I'll have to hedge my position and buy corn futures. Chow Jim
RE: NY steak shortage 2007/08/09 02:51:43
What's corn trading at, 340 or so? It was recently almost 400. Live cattle futures are near $1.00. Still quite reasonable.

Let me be blunt; most people don't care about Prime. My guess is the majority of Americans could not distinguish between Choice and Select. This is not meant to be trite; how many millions of Americans dined at the following places today?

Burger King
Taco Bell
Pizza Hut
Red Lobster
Olive Garden

That's just the short list.

I think anyone would concede it is a big number every day. Easily more than the number of Americans that bought Prime Beef today.