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New York CNN —Something wild has happened with turkey prices that’s going to make the cost of cooking the Thanksgiving meal more palatable to families on a tight budget. “Because turkey prices are down so much, and that’s the centerpiece of the meal, celebrating Thanksgiving at home will be more advantageous this year for families,” he said. Drop in turkey prices could bring down the overall cost of a Thanksgiving home-cooked mean this year. Food price increases have been easing this year, offering much-needed relief for many households. Canned food is still costlier heading into the Thanksgiving month compared to last year.
Persons: “ There’s, , Michael Swanson, Swanson, Christopher Walljasper, Wells Fargo’s, There’s, “ Russets, , Danielle Wiener, Bronner Organizations: New, New York CNN, Wells, Food Institute, USDA Livestock Marketing, USDA Locations: New York, , Pacific
Shrinking US cattle herd squeezes meatpacker profits
  + stars: | 2023-05-04 | by ( Tom Polansek | ) www.reuters.com   time to read: +5 min
Cargill, the world's largest ground beef producer, expects cattle prices will rise further, but it is still a question whether higher beef prices will ruin consumers' appetites, company executives said. Big profits for meatpackers during the pandemic and soaring beef prices fueled concerns in the Biden administration about consolidation and profiteering in the sector. The companies say supply and demand determine cattle and beef prices. In 2023, "the cattle feeder can negotiate more of the consumer dollar," said Brett Gottsch, managing partner Gottsch Cattle Co, which raises cattle in Nebraska. Gottsch remains concerned about a lack of competition among meatpackers, though others said surging cattle prices show the market works.
That has added pressure to grocery prices, putting a squeeze on wallets with no end in sight. California's drought conditions, on top of Hurricane Ian ravaging citrus and tomato crops in Florida, are likely to push food costs even higher. Cameron also grows processing tomatoes, onions, garlic and more than a dozen other crops near Fresno, California. The most recent drought in California began in 2020, worsening when California's Central Valley faced its driest January and February in recorded history. Cameron said tomato prices face a similar hike, resulting in a 50% increase in cost to canners and processors from 2021 to 2023.
WASHINGTON, Sept 28 (Reuters) - The White House on Wednesday plans to unveil $8 billion in new private sector spending to combat hunger, including hundreds of millions of dollars for meals after lawmakers failed to further extend pandemic-era nutrition supports like universal school meals and increased aid to food banks. Biden aims to end U.S. hunger and reduce diet-related diseases in a majority of Americans by 2030, but is turning to the private sector to underwrite some of the spending, after Congress failed to further extend school lunch aid. Key contributions to be announced Wednesday include a pledge by nonprofit FoodCorps to invest $250 million for free, healthy school meals and to expand nutrition education in schools. The private sector commitments also come after recent revelations of hundreds of millions of stolen federal dollars that were supposed to be spent on food aid during the coronavirus pandemic. "We are exploring what our next steps look like in terms of accountability," the officials said, speaking to reporters on condition of anonomity.
But this summer, the food stamps couldn't keep up with the grocery store's rising prices, sending her in search of a food donation for the first time. Some advocates argued for spending more on food stamps or cash distribution, which give people more choice than food handouts and also benefit local businesses. He doesn't qualify for food stamps, and has noticed when the pantry runs low on some items. While food supplies shrink, inflation is pushing more Americans toward food pantries for the first time. Food stamps made up less than 2% of U.S. government spending in 2022, according to U.S. Treasury data.
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