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Prices

Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Food
11/1/2021 at 10:21 PM

The big fertilizer cos reported earnings today. No surprise that both are raking it in hand over fist. Expected that upward price momentum on ferts could continue, which could lead to further food inflation:
https://www.bnnbloomberg.ca/top-fertilizer-producers-see-massive-price-surge-continuing-1.1675408
Johnbisonbear
Joined: Mar 2010
Posts: 4183

Johnbisonbear
Joined: Mar 2010
Posts: 4183

sigh
11/2/2021 at 8:51 AM

Adam said "The big fertilizer cos reported earnings today. No surprise that both are raking it in hand over fist. Expected that upward price momentum on ferts could continue, which could lead to further food inflation:
https://www.bnnbloomberg.ca/top-fertilizer-producers-see-massive-price-surge-continuing-1.1675408 "
More good news Line ups at food banks are higher than they've ever been from what I've read. Things are going to get worse.
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Ferts
11/2/2021 at 9:58 AM

Johnbisonbear said "More good news Line ups at food banks are higher than they've ever been from what I've read. Things are going to get worse. "
I don't think they'd forecast revenue outside of what's expected, but Worth keeping in mind that as much as they'll know their industry it’s to the fert cos’ advantage to see a rosy picture going forward. Last thing they want is for shareholders jumping ship thinking this is the peak. I'm no expert and not in a position to guess what the future brings but Fwiw Nutrien’s stock is taking it on the chin pretty good so far today, so at least some might not be buying the idea that the music will keep playing.

They might very well end up being right re continued trends, but just to illustrate how much long-term trends are like throwing darts at a dart board I’ve even read some fairly knowledgeable finance folks seeing inflation in general flipping into a deflationary environment as things play out into next year. To me, just gotta live, react and make best-possible decisions for the time!
Exhausted
Joined: Nov 2010
Posts: 1760

Exhausted
Joined: Nov 2010
Posts: 1760

Prices
11/2/2021 at 9:27 PM

Prices will continue to rise at least until supply chains are fully back online.

Minimum wage increases will increase prices. Same as union wage increases.

pandemic also increased prices as some suppliers raised their prices as demand was high so they could make more money.

There is also the fact is the ones that grow food for us to eat. Need a good price that will cover all their input costs.

Production was cut back so much that getting production back on track will take awhile causing shortages.

During pandemic we saved money. But our kids and their families spent more. With kids not in school and they were essential workers care for them had to be found. Use of grandparents etc wasn’t available. Online school has additional costs. Plus keeping kids entertained at home.

Yes you can review your lifestyle choices. Many are already cut to the bone.

When my kids were young we both worked full time so running around trying to find best deals wasn’t possible.

High prices will stay I believe. They may reduce a little. And in a few years we will think these prices are the norm.
Farmergeorge
Joined: Oct 2019
Posts: 1837

Farmergeorge
Joined: Oct 2019
Posts: 1837

.
11/2/2021 at 11:08 PM

Inflation increases are a necessary evil right now . We need to get interest rates to rise to encourage saving and create sustainable growth in the long term.
Money has been cheap for many years now and that needs to come to an end.
houriete22
Joined: Apr 2013
Posts: 43

houriete22
Joined: Apr 2013
Posts: 43

Food Banks in an overdemand
11/3/2021 at 2:40 AM

Currently across the country food banks are in an overloaded demand for basic food necessities.

I was watching a CBC investigation into the ethics of some brands that are owned by companies that exploit their employees.

$5.99 for Salt and Pepper?

$16-$19 for cigarettes?

$20 for an 8 pack of beer?
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Oil
11/3/2021 at 4:07 AM

Focus continues to be on Opec's refusal to pump enough oil as leading to the high oil and gas prices that we’re seeing. Focus at G20 on what consumer nations can do if Saudi/Russia/etc continue to under-produce. Do wonder if there's at least part of a solution involving Canada, within the frame of reference of us trying to be as responsible as reasonable from an environment/climate perspective...
https://www.reuters.com/business/energy/biden-push-g20-energy-producers-boost-capacity-ease-price-pressures-2021-10-30/
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Inflation
11/5/2021 at 7:40 AM

More evidence that nobody really knows where this is going… Two of Canada’s biggest insurance cos (Manulife and Sunlife) on totally different sides of the fence as far as whether changes we’ve been seeing are short-term temporary or longer-term:
https://www.bnnbloomberg.ca/inflation-debate-sees-canada-s-top-insurers-take-opposing-sides-1.1676678
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Inflation
11/10/2021 at 7:54 AM

USA CPI numbers released this morning for October surprised to the upside, a 31 year high…
https://www.marketwatch.com/story/coming-up-u-s-consumer-price-index-for-october-11636550300
Looks like price of gold might be trying to join the party...
Breber
Joined: Nov 2017
Posts: 132

Breber
Joined: Nov 2017
Posts: 132

Prices ?
11/10/2021 at 2:53 PM

This is just my general comment (not directed at anyone, in case it got in the wrong spot on here). We gave any of our extra payments (from the Gov't) to the food bank etc. I can't stand the thought of people not having enough to eat.
One thing I did learn - we don't need as much 'stuff' as we were use to buying, so I've taken a good hard look at my spending (needs vs. wants). It makes a huge difference.

Edited by Breber, 2021-11-10 15:06:12
Breber
Joined: Nov 2017
Posts: 132

Breber
Joined: Nov 2017
Posts: 132

Who are the 2 biggest employers in Brandon
11/10/2021 at 3:08 PM

I'm gonna say 1. the government 2. Koch
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Employers
11/10/2021 at 3:12 PM

Breber said "I'm gonna say 1. the government 2. Koch "
Some good data at this link...

They have Maple Leaf at #1 with 2000 as far as private sector
Prairie Mountain Health as the top overall employer with 2680

Lot more at:
http://economicdevelopmentbrandon.com/largest-employers
Breber
Joined: Nov 2017
Posts: 132

Breber
Joined: Nov 2017
Posts: 132

Question for Flutterby
11/10/2021 at 3:25 PM

How do you use topical magnesium? and which of the 10 kinds of magnesium are you talking about to use on the teeth: citrate, oratate, oxide, chloride, lactate, malate, taurate, L threonate, sulfate, glycinate? It sounds interesting. I have an article on essential oil use for cavities/teeth but I haven't tried it
Breber
Joined: Nov 2017
Posts: 132

Breber
Joined: Nov 2017
Posts: 132

This is to Someone
11/10/2021 at 3:45 PM

Before your carrots get to the point you have to throw them out, just cut them the way you'd like and freeze them raw, you can't tell the difference in soup or stew (just a tip you may not have known). I am enjoying this conversation, lots of information. Anyway, I am not only cheap but I am lazy (and have been freezing veggies raw, rather than blanching them etc.). It is working for me as I make lots of soups and stews.
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Coffee
11/12/2021 at 4:46 PM

Coffee now at seven year highs…
https://www.bloomberg.com/news/articles/2021-11-12/coffee-hits-seven-year-high-as-global-supply-threats-worsen
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Rail
11/16/2021 at 7:25 AM

Some awful images coming out of BC in the fallout from all of the rain. Clip below shows both Highway 1 and the CP main line overpass…
#BCStorm update: Weather conditions and road closures are limiting crew access in many areas. We appreciate your patience as repair work continues. Please find the latest outage updates on our mobile site: https://t.co/nxhBxNPfKJ pic.twitter.com/niU3omqofP
— BC Hydro (@bchydro) November 15, 2021

Haven't seen much as far as what the disruption might be or what reroute options there are on the rail or trucking ends, but situation in BC worth keeping an eye on when we talk about supply chain.
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Prices
11/17/2021 at 7:17 PM

More on now rail and road damage in BC is expected to impact availability of some items and prices…
https://www.bnnbloomberg.ca/empty-shelves-higher-prices-expected-due-to-b-c-floods-1.1683527

On the same day it was learned that CPI was 4.7% in Canada in October… the highest since 2003:
https://financialpost.com/news/economy/canadas-annual-inflation-rate-hits-4-7-in-oct-highest-since-feb-2003/wcm/4ae7c837-6407-4e1d-a230-a81941360874/amp/
Farmergeorge
Joined: Oct 2019
Posts: 1837

Farmergeorge
Joined: Oct 2019
Posts: 1837

.
11/17/2021 at 7:41 PM

Also reports today that variable rate mortgage lenders are not going to wait for a Bank of Canada interest rate increase. Expect lenders to start increasing interest rates very soon.
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Oil
11/26/2021 at 12:05 PM

Oil down a whopping 12.5% today to $68s so far on new Covid variant fears… around 20% from mid 80s that it was earlier this month. Bets on how long that takes to reflect at the pump if it holds? Of course There's a lot more to the world than oil... gotta be some concern to what things look like economically at the other end depending on what's learned about new variant and what the global response might have to be...
Farmergeorge
Joined: Oct 2019
Posts: 1837

Farmergeorge
Joined: Oct 2019
Posts: 1837

.
11/26/2021 at 7:29 PM

Adam said "
Oil down a whopping 12.5% today to $68s so far on new Covid variant fears… around 20% from mid 80s that it was earlier this month. Bets on how long that takes to reflect at the pump if it holds? Of course There's a lot more to the world than oil... gotta be some concern to what things look like economically at the other end depending on what's learned about new variant and what the global response might have to be...
"
Gas at the pump already started to drop yesterday.
Yesterday I priced fertilizer and it sure hasn’t dropped, I almost did though, dry phosphate alone is up nearly 80% against what I paid last December.

Edited by Farmergeorge, 2021-11-26 19:42:50
Farmergeorge
Joined: Oct 2019
Posts: 1837

Farmergeorge
Joined: Oct 2019
Posts: 1837

Food and fertilizer.
11/29/2021 at 12:35 AM

This maybe of interest to those concerned with rising food prices and causes. I just projected my fertilizer costs to pre buy my 2022 requirements for a very small farm. My supplier can’t offer prices on all products yet but based on the information I have and soil test requirements it’s going to cost us an EXTRA $78000 minimum in fertilizer costs alone for 2022. This will mean consulting with my agronomist to find areas in our nutrition program where we can cut back and reduce costs which ultimately means less production.
I thought these real world figures may be of value.
The thought of quitting crop production and sowing the whole farm down to grass to expand our cow herd looks quite attractive right now although not very realistic.

Edited by Farmergeorge, 2021-11-29 00:44:17
Adam

Joined: Mar 2005
Posts: 15663

Adam
Joined: Mar 2005
Posts: 15663

Fertilizer
12/1/2021 at 8:56 PM

Extensive read with More colour on fertilizer and the flow through to food prices… world food prices said to be at a ten year high in October...
https://www.theguardian.com/environment/2021/nov/25/fertilizer-shortage-north-america-farmers-food-prices
Farmergeorge
Joined: Oct 2019
Posts: 1837

Farmergeorge
Joined: Oct 2019
Posts: 1837

Article
12/1/2021 at 10:47 PM

Adam said "
Extensive read with More colour on fertilizer and the flow through to food prices… world food prices said to be at a ten year high in October...
https://www.theguardian.com/environment/2021/nov/25/fertilizer-shortage-north-america-farmers-food-prices
"
That article is really quite inaccurate. In a lot of cases producers are unable to get fertilizer pricing from our suppliers at the moment so it is difficult to buy our spring supplies. I have just secured my dry starter fertilizer supply but there is no pricing available for liquid fertilizer yet. Some retailers can offer pricing delivered to the farm immediately but most producers are not able to properly store their spring fertilizer needs especially those of us that use custom blends for each individual field. I know of several producers that wanted to apply more fall nitrogen but found that quantities were restricted or not available. Every crop input retailer that I have spoken to has said that they have never seen the fertilizer market in its current state.
Let’s hope that producers are able to secure their fertilizer needs for the 2022 crop soon. If enough supply does not become available soon I can see massively reduced crop plans and yields next year which could devastate food supplies to the consumer and will no doubt cause further food price rises and shortages.
Farmergeorge
Joined: Oct 2019
Posts: 1837

Farmergeorge
Joined: Oct 2019
Posts: 1837

CBC news
12/9/2021 at 8:51 AM

Canada’s food price guide says that food items will cost us all a lot more in 2022.
A few causes are behind this food price inflation but a key issue cited in the new report is that over 50% of all the food produced in Canada is wasted.