Patrick Thomas
speaker
995 appearances
15 recordings
1 series
first heard Jul 2018
last heard May 2024
Patrick Thomas’s voice in public audio — every appearance, attributed to the second.
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Appearances
Whenever food prices go up, especially among the different meat items, chicken is always the bargain.
Even if chicken prices tick up and the consumers may feel that, it's still much of a bargain compared to steak right now.
The share of U.S.
consumers' income spent on food is at a three-decade high, and that's been prompting people to shift spending toward cheaper private label items, different meats, trade down at the meat case.
People are really noticing.
Over the last couple years, really now, food prices have been going up, and people have started to notice the high price at retail.
This has gone on for a while.
Whenever food prices go up, especially among the different meat items, chicken is always the bargain.
Chicken and eggs are actually the two of them.
Eggs being the cheapest, but in terms of the center of the plate protein, chicken's the winner, usually, when it comes to high inflation.
It's still a bargain, even if chicken prices tick up and the consumers may feel that.
It's still much of a bargain compared to steak right now.
For example, a pound of ground beef can cost you six, seven dollars and you can get chicken thighs, which is growing in popularity in the U.S.
for six dollars and you can get more meat that way.
Beef is a little bit more complex, and we have a shortage of cattle in this country right now.
And over the last couple of years, ranchers have been shrinking the size of their herd for a number of different reasons that would take another episode to get into.
But what that means is there's less supply.
And that's raising the price of beef at the wholesale level.
So meatpackers are paying more for their cattle.
And that's raising the price at the retail level ultimately.
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