Farming bank warns grocery prices will continue to rise

[IronNoggin]

Farming bank warns grocery prices will continue to rise

Canadians could see ballooning grocery prices for the “foreseeable future,” a federal agricultural bank is warning.

Farm Credit Canada made the prediction in their Quarterly Economic And Financial Market Update, according to Blacklock’s Reporter.

The bank named the supply chain crisis and labour shortages as two reasons for growing prices.

“We believe food inflation will remain elevated for the foreseeable future,” stated the report. “As supply chain disruptions and labour challenges ease and the supply of agricultural commodities rebounds we should record lower food inflation. The difficult question is around the timeline associated with a return to average inflationary pressures.”

https://tnc.news/2021/12/06/farming-...tinue-to-rise/

[Trochu]

Yup, you'd have to be a federal employee to not see this is obvious. Fertilizer's gone up 50% from last year, fuel is up, equipment is up, taxes are up, carbon tax, commodity prices, inflation, every thing has gone up.

[North40Rules]

That is what you get when you have a part-time substitute drama teacher and white water rafting guide running the country.

See charts below.

Inflation



Economy

[Grizzly Adams1]

The Bad news is, the Liberals will see this as inflation and raise interest rates which will adversely affect mostly those with lower incomes.

Grizz

[mooseknuckle]

Originally Posted by Trochu

Yup, you'd have to be a federal employee to not see this is obvious. Fertilizer's gone up 50% from last year, fuel is up, equipment is up, taxes are up, carbon tax, commodity prices, inflation, every thing has gone up.

Except wages.

[58thecat]

Originally Posted by Trochu

Yup, you'd have to be a federal employee to not see this is obvious. Fertilizer's gone up 50% from last year, fuel is up, equipment is up, taxes are up, carbon tax, commodity prices, inflation, every thing has gone up.

Huh?
Federal employees not impacted by the increased cost?


Sent from my iPhone using Tapatalk

[Ken07AOVette]

sounds to me like someone is banking on a huge run of panic buying just before year end. Want it? This is how you get it.

BUY IT NOW SAVE MONEY ITS GOING UP!!!

[cody j]

One frustrating thing about stuff like this this is that often when the price of beef goes up in the store the price of live cattle goes down at the same time.

[Smoky buck]

Originally Posted by Ken07AOVette

sounds to me like someone is banking on a huge run of panic buying just before year end. Want it? This is how you get it.

BUY IT NOW SAVE MONEY ITS GOING UP!!!

Possible but there is still no doubt the cost of food has been climbing at a faster rate than normal lately

[Drewski Canuck]

Umm Ken, you drive past Canola fields every day you are on the road in your area.

Canola basically doubled in price in one year from the 10 - 12 a bushel range.

Grain terminals were paying $22 a bushel for Canola this September.

Expectation is that Canola will sell for over $28 a bushel after Christmas.

So what happens to the end product, being Margarine, and Cooking Oil?

Be happy that prices go up by 10 to 30 %. That is a best case scenario.

Drewski

[Ken07AOVette]

$28 holy crap

I remember farmers peeing themselves when Canola hit $10

[IL Bar]

Originally Posted by Trochu

Yup, you'd have to be a federal employee to not see this is obvious. Fertilizer's gone up 50% from last year, fuel is up, equipment is up, taxes are up, carbon tax, commodity prices, inflation, every thing has gone up.

Fertilizer has went up 100-120% not 50% in the last year. It has more than doubled.

Roundup has doubled. Many other farm chemicals have went up minimum 25%.

Grain bins have doubled in price due to price of steel.

Farm equipment has jumped and the price really doesn’t matter as there is nothing available due to supply disruptions and labor strikes. Due to lack of new iron around used equipment has skyrocketed.

Don’t wreck any tires as nothing is available in many sizes.

We have to be proactive and keep a bigger supply of parts, filters and oil around so they are there when or if you need them because dealer may not have it or be able to get it.

Yes our commodity prices have risen but with everything else rising at a faster pace our risk has grown exponentially. We have to also remember that a good chunk of the Prairies did not get much of a crop this year. A world of hurt is coming for those producers trying to put in a crop this year.

[lmtada]

Originally Posted by Grizzly Adams1

The Bad news is, the Liberals will see this as inflation and raise interest rates which will adversely affect mostly those with lower incomes.

Grizz

How does the federal government raise interest rates? Bank of Canada in charge of interest rates. Raising interest rates would destroy government finances. Governments have gorged on debt with low interest rates since 2007. We now have lowest interest rates ever recorded for longest period of time. Should BOC raise rates, mostly effect government budgets, and private sector mortgages. Canada Federal government owes 1.1 trillion in debt, and personal mortgage debt is now two trillion. Taxes will be increased to cover more of the expanding debt. Ms Freeland is anxiously awaiting the new tax rollout. You are already paying 50% of your earned income to some type of government (federal, provincial, municipal). Government have benefited the most since WW2 (expansion in government) so much that 30% Canada work force is employed by some type of government. Prior to WW2 Canada growth years government sector was 10% of Canada workforce. All at the expense of private sector. Look now federal liberals, want to kill Canada resource sector. Canada is a resource rich country. No use arguing with anyone west of Toronto, because most understand the issues. Those Toronto East are the problem.

[MountainTi]

Originally Posted by Drewski Canuck

Umm Ken, you drive past Canola fields every day you are on the road in your area.

Canola basically doubled in price in one year from the 10 - 12 a bushel range.

Grain terminals were paying $22 a bushel for Canola this September.

Expectation is that Canola will sell for over $28 a bushel after Christmas.

So what happens to the end product, being Margarine, and Cooking Oil?

Be happy that prices go up by 10 to 30 %. That is a best case scenario.

Drewski

Close to $9/bushel at the bin for feed barley isn't going to help beef/pork prices either

[Ken07AOVette]

Originally Posted by MountainTi

Close to $9/bushel at the bin for feed barley isn't going to help beef/pork prices either

Holy other words that mean the same as crap.

$9 for feed barley and cattle prices are down???

thats insane

[KC1]

Originally Posted by Ken07AOVette

Holy other words that mean the same as crap.

$9 for feed barley and cattle prices are down???

thats insane

Yes
More and more livestock farmers are getting forced out of production.
Supply will be less and food prices will go up.
Sad but true.

[Drewski Canuck]

Originally Posted by Ken07AOVette

Holy other words that mean the same as crap.

$9 for feed barley and cattle prices are down???

thats insane

Ken,

Cattle prices are down because in July the boys down south saw their crops turn to dust, so they realised that there was no feed for the winter and no grass for winter grazing. Hence, the sell off started.

Feed Barley is usually used in "chop" (mix of hay, oats, barley) to finish the steers to market weight in a feedlot. Or it is used in chicken and turkey feed. However, with so many cattle being sold, and so little feed, the feedlots are not holding alot of animals to finish and are not paying a good price at auction, and the herd is largely going to slaughter.

This happened in 2014 - 2016 when the US Midwest was in a drought and they sold off their herds for lack of feed.

Round bale prices were $120 in the fall. Those were the good old days.

If you are a dairy operator you need better feed, and good alfalfa bales are north of $150.

What comes next is price pressure on the rebound when operators pay a premium in a year or two to rebuild their herds.

But the immediate inflationary pressure could be reduced somewhat for the food industry. JUST ELIMINATE THE CARBON TAX!!!

Drewski

[HyperMOA]

Originally Posted by 58thecat

Huh?
Federal employees not impacted by the increased cost?


Sent from my iPhone using Tapatalk

He didn't say that federal employees won't be effected, he said they won't understand.

[6.5 shooter]

How short our collective memories are: Don't you remember double digit inflation when Turd'O senior was in power? This is just Little Turd'o following in daddies footsteps but this will be much much much worse.

Liberals think inflation is a good thing

[Drewski Canuck]

Liberals think inflation is a good thing for a simple reason.

When the debt is in Trillions, and you are paid in millions because the currency has the same value as Italy or Zimbabwe (Inflation was nearly 100 % this year in Zimbabwe), it makes the National Debt look manageable!!

Yeah, we are Sewered.

Drewski

[59whiskers]

We vote in the governments we deserve.

[58thecat]

Originally Posted by HyperMOA

He didn't say that federal employees won't be effected, he said they won't understand.

how would they not understand?

[huntinstuff]

Originally Posted by Drewski Canuck

Umm Ken, you drive past Canola fields every day you are on the road in your area.

Canola basically doubled in price in one year from the 10 - 12 a bushel range.

Grain terminals were paying $22 a bushel for Canola this September.

Expectation is that Canola will sell for over $28 a bushel after Christmas.

So what happens to the end product, being Margarine, and Cooking Oil?

Be happy that prices go up by 10 to 30 %. That is a best case scenario.

Drewski

True

Just sold some spring wheat. Price was right. Took a couple days and they called me. Wanna sell more? And canola?

I mean we all get calls or have contracts but that is the first time in years they.called me if i wanted to sell more....i think the last time was 2012?

[Smoky buck]

Originally Posted by 59whiskers

We vote in the governments we deserve.

You mean Ontario and Quebec vote in the government they think we deserve

[Mavrick]

Originally Posted by Smoky buck

You mean Ontario and Quebec vote in the government they think we deserve

Here, here Smoky, there’s no we in Liberal out west. ( well except for a few that I’ll never understand.)

[HyperMOA]

Originally Posted by 58thecat

how would they not understand?

Socialists don’t understand economics and ignore it in favour of voting for a raise not prudent fiscal management.

Besides I never said they wouldn’t understand, Trochu did. You should ask him, I don’t want to put words in his mouth. I was merely pointing out you misunderstood his comment.

[Bushrat]

Ahh yes, the liberal monetary policy of trying to inflate ourselves out of debt. Always works out well.

[NCC]

Originally Posted by MountainTi

Close to $9/bushel at the bin for feed barley isn't going to help beef/pork prices either

One of your neighbors told me he was getting $9.30/bu for oats at the bin.

I should have listened to Michael Martin Murphy and "Sold my saddle, bought me a plow, swear By God I'll never rope another cow."

[Ken07AOVette]

Looks like it is going to be a lot of fish for us this winter, and I am going to FILL as many freezers as I can with Alaska fish next year. Went to town to buy some beef.

Hahaha ha ha


no.

[MountainTi]

Originally Posted by NCC

One of your neighbors told me he was getting $9.30/bu for oats at the bin.

I should have listened to Michael Martin Murphy and "Sold my saddle, bought me a plow, swear By God I'll never rope another cow."

Stopped in the feed store today and surprised a bag of rolled oats was only $15. Guessing that will go up.

Will make it easier paying for those million dollar quarters selling recently east of here on the #2 corridor