EmbeddingGemma 2: an open, lightweight multimodal embedding model
deepmind.google·6d ago
AI Engineering
Hacker News·Aug 6·5 min read
US beef prices have soared but farmers aren't making more money
TL;DR
Despite a 12% increase in US beef prices over the past year, farmers like South Dakota rancher Eric Gropper are not seeing higher profits. The BBC's Follow the Money series investigates the beef supply chain to uncover where the increased revenue is going.
✦ Why It Matters
Consider advocating for fair pricing practices in the beef supply chain to support farmers.
Key Takeaways
- Monitor input costs regularly to adjust pricing strategies.
- Explore alternative suppliers to reduce dependency on high-cost inputs.
- Consider diversifying product offerings to attract cost-sensitive customers.
- Stay informed about market trends to anticipate price changes.
Full Summary
Beef prices in the US have surged by 12% over the past year, driven by a significant cattle shortage caused by drought and disease. Ranchers like Eric Gropper are selling calves at record prices, yet their profits remain stagnant due to skyrocketing costs for essentials like feed and equipment.
Feedlot companies and meatpackers are also facing high purchase prices for cattle, limiting their profit margins despite selling beef at elevated prices. The meatpacking industry, dominated by a few large firms, is struggling with inefficiencies and rising operational costs.
Restaurants are forced to raise menu prices but are cautious about alienating customers. This complex situation highlights that while revenue is increasing, actual profits are not, and it will take years to replenish cattle numbers to stabilize the market.