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The prices of minced meat and chicken reach all-time highs just before Memorial Day




Minced meat and chicken breast are more expensive than ever before, and with the all-time high prices that give consumers few options, some may experience a memorial day without meat this coming Monday.

Bloomberg reported that minced meat and chicken are now sold at historic highs of just under $ 5 per pound and over $ 4 per pound, respectively. With Memorial Day being the unofficial start of the outdoor barbecue season, some barbecue enthusiasts may choose to order pizza for the holidays instead.

Meat price increases come as inflation generally continues to spiral out of control, but in the wake of Russian President Vladimir Putin̵[ads1]7;s invasion of Ukraine, agricultural products are experiencing further price increases. The Russian invasion of Ukraine has stopped the export of crops in the Black Sea, which has increased the global cost of animal feed.

Even the price of propane – which is crucial for many barbecue owners to make meat – has risen.

Michal Nepveux, senior analyst for animal protein raw materials at risk management firm Stable USA, said: “The inflation environment is starting to take its toll. Instead of beef or chicken, we can have pasta or pizza.”

The seemingly endless rise in inflation has a significant impact on how many Americans feel about President Joe Biden’s job performance.

According to a recent poll published by the Associated Press-NORC Center for Public Research, only 39% of adults in the United States accept Biden’s performance as president.

Overall, only about two in ten adults believe that the United States is heading in the right direction or that the economy is in good shape. As Americans become increasingly frustrated with record gas prices and historic inflation levels, Biden’s approval continues to plummet. In particular, his approval among Democrats is also beginning to slip.

Biden’s approval among registered Democrats currently stands at 73%, which is down from 82% last year.

Only 18% of Americans believe that Biden’s policies have helped the economy more than they have harmed it.

Small business owners – who employ large sections of the American population – are also increasingly pessimistic about the economy. 57% of small business owners said they predicted that the US economy would continue to deteriorate into the next year.

As inflation continues to cut into the profit margins of small businesses, the number of small business owners who expect their incomes to increase in the coming year fell to 61%, marking a sharp decline from the May 2020 level of 79%.





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