InfoAnda - US steak, burger lovers face beefier prices

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

'Mad' Frenchman making 'champagne' in southern England | 25 December 2008
Mobile broadband users seen hitting 1 billion in 2011 | | 11 January 2011
Australia, China discuss detained Rio executive: Rudd | 25 October 2009

China floods kill 52, force 100,000 to evacuate | | 8 June 2011

Forum Views () Forum Replies ()

Read more with google mobile : US steak, burger lovers face beefier prices

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition World US steak, burger lovers face beefier prices AFP - Saturday, January 29 Send IM Story Print US steak, burger lovers face beefier prices WASHINGTON (AFP) - – US prime steak and fast-food burger lovers alike are getting hit in the pocket by the sharp rise in primary agricultural commodities. And the restaurants that serve them are also likely to feel it on their bottom lines. It was the one thing that stuck out when fast-food king McDonald's delivered its annual financial results Monday: they may have to push up prices to cover the higher cost of beef going into their world-famous burgers. The beef market "is the one market that looks like it could be the most volatile for us," said McDonald's financial director Peter Bensen. And experts say that view is feeding through the whole US restaurant business, hitting both owners and eaters. "I think that increasing food inflation will have an impact on restaurant companies in general in 2011," said RJ Hottovy of Morningstar. "Large companies like McDonald's have already locked in beef prices for a good portion of the year," he said. But, "if we continue to see prices increase, certainly there is a risk that the impact could be greater than what McDonald's has predicted," he said. Prices of key feedgrains like soybeans, wheat and corn have soared 35-50 percent in 2010, forcing up beef prices in recent months. Live cattle prices have risen 25 percent in a year to hit a new high in mid-January of $112.25 per 100 pounds (45 kilograms) on the Chicago Mercantile exchange. The effect is already reaching dinner plates. According to the US Department of Agriculture, consumer prices for beef were up 6.1% in December from a year earlier. At least ranchers are happy about the situation. "I just sold steers from my herd about two weeks ago, that was the best price I ever received since I came back to the ranch after college in 1992," said North Dakota rancher Ryan Taylor, who owns more than 200 cattle. He said prices for his high-quality cattle had jumped from 62 cents a pound several years ago to $1.40. "No one is really getting rich in the country. But we are able to pay the bills and raise our family and have a little money saved up for next year's expenses," he said. Besides the higher cost of feed, prices have been driven by a decline in US supplies. One reason has been a surge in US beef exports, partly due to the loss of supply from South Korea, where herds have been ravaged by hoof and mouth disease since late November, forcing culling of more than one million head of swine and cattle. But another has been that the total size of the US herd has fallen from 130 million head in the 1970s to below 100 million today, according to Iowa State University agro-economist Chad Hart. Taylor said not many young people want to take up cattle ranching. "The average age of ranchers in North Dakota is probably over 60," he said. All that is translating into higher red-meat costs for restaurants and supermarkets. Whether silver-fork steak-houses and McDonald's and other fast food chains can pass along the price hikes is still an unknown. "So much of American restaurant meat demand is for beef, all the hamburgers, steaks," Hart told AFP. "As we saw people impacted by the recession, they tended to do more cooking at home, less eating out; that had an impact on meat demand," he said. Hottovy pointed out it was "going to be difficult to raise prices but at this point modest price increases are pretty much required." However, he added, "It is a slippery slope because it is an environment where the consumers are pretty adjusted to low prices." Recommend Send IM Story Print Related Articles William and Kate to get Lifetime movie treatment AFP - 1 hour 24 minutes ago US-ENTERTAINMENT Summary Reuters - Saturday, January 29 Charlie Sheen back home, plans return to TV set Reuters - Saturday, January 29 French festival exposes Japan's female manga underground AFP - Saturday, January 29 Sundance film puts spotlight on euthanasia AFP - Saturday, January 29 News Search Top Stories Mandela goes home after hospital treatment US growth hits highest level in five years Ford doubles profit in 2010, disappoints in Q4 US, Britain split on cuts in Davos Charlie Sheen rushed to hospital after 'wild' party More Top Stories » ADVERTISEMENT Most Popular Most Viewed Charlie Sheen rushed to hospital after 'wild' party Mandela goes home after hospital treatment 'Thunder-snow' storm buries US north-east Rare Sumatran tiger gives birth to three cubs US financial crisis 'avoidable' says probe More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Saturday, 29 January 2011
Analysis
Egyptian Internet cutoff 'unprecedented': Renesys
Mubarak orders army to back police against Egypt unrest
US growth hits highest level in five years
Apple launches iPad in India
Jordanian protesters demand political reforms
Ford doubles profit in 2010, disappoints in Q4
Jordanian protesters demand political reforms |
US-TECH Summary
Egypt shows how easily Internet can be silenced
Bruno Mars beats out Britney to reclaim #1 on the Billboard Hot 100
Egyptians carry dead protester through Suez
Albania opposition calmly honors dead protesters |
Website invites Russians to say 'Goodbye Putin!'
Iran nuclear plant will be 'ready in April'
Exclusive: The next generation of WikiLeaks
Sixty raped in attacks on Congo villages: U.N. |
Brazilian kept wife in cellar for 16 years: police |
Wikileaks spin-off group launches new site
South Korea sink Uzbeks to claim 2015 berth
Prominent Cuban dissident defiant after detentions |
Top Tibetan monk raided by Indian police
Severe malnutrition after Pakistan floods: UNICEF
Microsoft shares fall; tablet worries abound
War crimes court dismisses Taylor's claims of bias over cables |
In U.S. courts, Facebook posts become less private
American involved in Pakistan shooting claims self-defence
New START treaty to enter into force Feb 5
India raids "living Buddha" over alleged illegal funds
Young, web savvy fight for Egypt against Mubarak
Medvedev signs law ratifying Russia-U.S. arms pact
Chinese boost prices in world's auction houses
American remanded in Pakistan over double killing
Salzburg's 'Glockenspiel' chimes again
US-ENTERTAINMENT Summary
Charlie Sheen back home, plans return to TV set
US steak, burger lovers face beefier prices
French festival exposes Japan's female manga underground
Transsexual set to take Brazil fashion week by storm
Exclusive: The next generation of WikiLeaks |
S. Korea rice consumption falls to record low
Wikileaks spin-off group launches new site |
Sundance film puts spotlight on euthanasia
FCC seeks to dismiss challenges to Internet rules |
U.S. review of Huawei/3Leaf under way |
SanDisk shares dive, hit margin, price fears |
NTT DoCoMo profits rise in nine months
Pakistani stocks end flat; rupee firms; o/n rates down
ADB lends $242 million to Pakistan for power sector
Taiwan due to release full Q4 GDP figures on Feb 17
Hyundai Steel says to add $2.7 bln furnace by 2013
Arizona lawmakers propose another tough illegal immigration law
Showtime salutes Black History Month starting with Bill Withers special
Consumer spending, real gross domestic product rise in last quarter of 2010
Senate Republicans seek end to birthright citizenship
Coachella music festival sells out 2011 tickets in just six days
Ford shares drop after 4Q profit
Sofia Vergara releasing fashion collection for the younger crowd in Kmart
UPDATE 2: U.S. efforts to balance support for popular Cairo protests and fighting terror
Got an Emergency? There is an App for that....
Amazon sells more eBook downloads for Kindle than paperbacks in U.S.
Report: Blunt force trauma cause of Arkansas bird kill
Taco Bell threatens countersuit over beef quality claims
Rep. Kucinich Suing House Cafeteria Over Olive Pit
Lady Gaga's first fragrance to smell like "blood and semen"
Knife-wielding New Yorker holds parents hostage, then surrenders
The fight for Schindler’s list
Graduate school instructor charged with faking military credentials, doctorate
Man who became father at 14 to be a grandfather at 29
Michael Jackson’s doctor pleads not guilty to manslaughter charge
Auction of suspected JFK assassin’s casket, burial records sets off lawsuit
Eight killed in suicide attack on Kabul supermarket
Italian judges defend colleagues in Berlusconi sex inquiry
Instant View
WikiLeaks: The Next Generation
Mandela goes home after hospital treatment
LinkedIn eyes $175 million IPO; investors eye finances
Army disperses protesters from Egypt state TV HQ
Egypt's Mubarak sends in army, resists demands to quit |
Analysts' View
Exclusive: U.S. asks about search fairness in Google/ITA
Suicide bomber kills Kandahar deputy governor |
Google won't be taken to court over data gather
WikiLeaks founder says enjoys making banks squirm |
Iran hangs Dutch woman arrested after protests |
Google updates service tracker amid Egypt shutdown
Nigerian electoral candidate shot in northeast city |
Japan upgrades travel warning for Egypt
Egypt's Internet shutdown draws fire in US
China's Li Na set for historic Slam final
Global minimum and maximum temperatures
N.Zealand wilt as Pakistan's Hafeez makes century
"Glee" star Lea Michele to sing at Super Bowl
FCC seeks to dismiss challenges to Internet rules
Prominent Cuban dissident hospitalized after arrest |
Hundreds mourn Hong Kong democracy icon
Sri Lanka leader sued in US
Australia warns against Egypt travel
China's Li hopes for fairytale ending at Aussie Open
Thousands brave Canadian cold to catch tiny ice fish
Twin truck bombings kill four, injure 19 in Pakistan
Hopkins seeks the 'devil' inside, in new film
Akishino visits Costa Rica children's hospital
"The Rite" poised to top weekend box office
Final send-off for Hong Kong democracy icon Szeto
LinkedIn eyes $175 million IPO; investors eye financials |
WikiLeaks founder says enjoys making banks squirm |
Bruno Mars to plead guilty to cocaine possession
Exclusive: U.S. asks about search fairness in Google/ITA |
Demi Lovato out of rehab, return to TV show uncertain
Britney Spears album confirmed for March 15 release
Royal wedding grips U.S. TV, but who to play Kate?
WikiLeaks: The Next Generation |
"Glee" star Lea Michele to sing at Super Bowl
Charlie Sheen back in rehab, TV show on hold |
Bruno Mars to plead guilty to cocaine possession |
Demi Lovato out of rehab, return to TV show uncertain |
Britney Spears album confirmed for March 15 release |
Royal wedding grips U.S. TV, but who to play Kate? |
The Rite poised to top weekend box office |
American Idol's David Archuleta on the new season |
Glee star Lea Michele to sing at Super Bowl |
YouTube unveils Life in a Day film at Sundance |
Egypt in revolt as Mubarak stands fast
Moscow airport bomber 'targeted foreigners': Russia
Factbox
China micro-blogging sites censor 'Egypt'
France says troubled euro has 'turned the corner'
Afghan suicide bomber kills Kandahar deputy governor
Flu epidemic shuts all Moscow schools
Egyptians defy curfew to call for Mubarak to go |
Iraq water shortages raising ethnic tensions
Iran hangs Iranian-Dutch woman for drug smuggling
Russia says Moscow airport bomber from North Caucasus |
Deputy governor killed in Afghanistan
Iran briefly detains son of opposition leader: report |
Rwanda grenade attack kills two people, wounds 28 |
Prominent Afghan family died in grocery bombing
Mourners, Israel troops clash after West Bank funeral |
Bomber kills deputy governor in south Afghanistan
Pakistan says law must take its course in U.S. diplomat case |
Afghan officials: Kandahar deputy governor killed
Central African Republic candidates say poll rigged |
India brings private eye to US film festival
China to double imports by 2015 to balance trade
Coming polls promise to be fun
COMMENTARY: The Chinay Tiger Mother
UN's food agency urges vigilance vs foot-and-mouth disease in Asia
Rail good trip home for CNY
Sexual prey in the Saudi jungle
Japan minister eyes sales tax hike around 2015
Death toll in Indonesian ferry fire soars to 11
Pakistan leaves policy rate unchanged at 14 pct
India Maruti's profit falls on rising costs
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01