36.1 C
Washington

The wholesale price of bacon has nearly tripled since June

Date:

Share:



Grabbing breakfast or a BLT could require you to make some financial assessments in the near future.

Wholesale prices for pork belly, which is used to make bacon, have nearly tripled since June, hitting their highest level in the last 12 months.

Animal-welfare laws in California are, at least in part, behind the surge. New rules, which went into effect on July 1 with the passage of the state’s Proposition 12, require farmers to give pigs at least 24 square feet in their pens if the meat is going to be sold in the state. The Wall Street Journal notes that about 15% of U.S. pork consumption is in California.

Regular, seasonal increases are also playing a part in the rise.

Here’s the good news for people who can’t get enough of the glorious, salty treat: So far, the rise in wholesale prices hasn’t been passed along to consumers. Many bacon suppliers source their own pig bellies, and restaurants can compensate for fluctuations in other ways. (That said, some restaurants are already downplaying the popular meat in their promotions.)

One possible result of the new California law is that shoppers in that state could see the price of bacon increase, since the number of suppliers that comply with the new California law is limited. Shoppers and diners in other states, meanwhile, might even see slightly lower prices as the supply of bacon in their area increases (as suppliers avoid the California market).

The Supreme Court upheld Proposition 12 in May, with Justice Neil Gorsuch writing, “While the Constitution addresses many weighty issues, the type of pork chops California merchants may sell is not on that list.”



Source link

Subscribe to our magazine

━ more like this

Donald Trump taken off stage during rally after apparent gunshots; Secret Service says he is safe

Donald Trump’s campaign said in a statement that he was “fine” after being whisked off the stage at a rally in Butler, Pennsylvania...

Call your shot: Investors are buying individual stocks at a record pace as market-beating bets dwindle to lowest ever

More investors are calling their shots and picking out individual stocks to buy as market gains become concentrated in an increasingly narrow range...

A trip to Shanghai’s AI mega-conference showed me that China’s developers are still playing catch-up to Silicon Valley

Last week, Shanghai hosted China’s largest AI event: The World Artificial Intelligence Conference (WAIC), with 500 exhibitors, 1,500 exhibits, over 300,000 attendees, and...

Trailers of the week: Captain America, F1, and Gladiator II

There’s a bit of a theme of payoff in this week’s trailers. Anthony Mackie finally takes the lead on the big screen after...

U.S. corporate bankruptcies are soaring above the pandemic-era peak, adding to the economic alarms bells piling up

The number of U.S. companies that filed for bankruptcy last month topped the highs seen during the early stages of the pandemic in...