Bacon Math
OUCH! Bacon is really biting back now. Has anyone noticed that the price of bacon is going through the roof?
I've been noticing this for the last few weeks or so. I've been shocked as I peruse the bacon department of my local supermarkets. Just last week, I informed my husband that Oscar Mayer bacon was being sold for $8 a package here in Seattle. After an early morning jaunt to the grocery store this morning, I decided it was time to write about this upwardly mobile trend.
I was at Safeway and noticed that the Oscar Mayer Fully Cooked Bacon was featured as a sale item. The sale advertised two packages for $7. The original price per package was listed as $4.49. I looked closer and saw that each package contained 2.1 ounces of bacon, or fifteen slices. I did a quick calculation and realized that one pound of fully cooked bacon would then be $34.20!! I was shocked, but I purchased a package for the sake of research.
Of course, the fully cooked product offers a lot of convenience in terms of added value, because the bacon is easily incorporated into sandwiches, salads, and egg dishes. It saves time. Nontheless, there comes a time when I can't justify convenience for price. There also comes a time when the do-it-yourself cookery method makes a lot more economic sense in our household of five. This is clearly one of them.
For that reason, I will make sure that any bacon consumed in my house is cooked from the get go in my beloved cast iron skillet! What are your thoughts on the new bacon math?
--Melissa A. Trainer
Randy on November 09, 2010 at 12:31 PM
My local gourmet grocery (Fairway in Pelham NY - branches in Manhattan, Brooklyn, Stamford and Paramus) has their house-brand bacon for $4.99/lb - and it's GOOD bacon. Better than most of the commercial stuff.
douglas on November 10, 2010 at 06:07 AM
It is not just Bacon that has increased in price, it seems that all groceries have increased. What was once purchased for weekly meals at the supermarket for under $100, now exceeds $120. We have cut back on many items and we still pay more for our weekly food bill. There was a record corn crop this year in the midwest yet the news indicated that there would be a price increase for same due to energy costs and export demand.
PJ/Maryland on November 10, 2010 at 06:10 AM
Melissa, my impression is that the 2.1 ounce package of fully-cooked bacon is equivalent to a pound of uncooked bacon (approximately). A pound of fully cooked bacon would be something like 100 slices of bacon, which would be a lot even for a household of five!
Doc Merlin on November 10, 2010 at 06:24 AM
This is what happens when the federal reserve does or talks about doing quantitative easing.
JoeS on November 10, 2010 at 06:26 AM
We will become the new Weimar Republic. Go to the store with a shopping cart of money to buy a wallet of food.
We made a real mistake with Obama.
Ken.... on November 10, 2010 at 06:27 AM
PJ/Maryland's impression is correct. I did a little experiment awhile back where I cooked a pound of raw bacon then weighed it. It turned out to be about 1/2 an ounce more than the pre-cooked. So they are about the same cost-wise after cooking, but when it comes to flavor there's no comparison.
coggieguy on November 10, 2010 at 06:34 AM
In fact corn yields are down this year and the price of corn (the key feed for hogs) is shooting back up to into "historically high" territory. USDA crop report from Nov 9 (http://www.usda.gov/nass/PUBS/TODAYRPT/crop1110.txt)revised corn yields down again from earlier October downward revision. Ag commodities (corn, soy, wheat & rest of grain complex) are going up as will food prices. This will impact everyone in the world. Stockpile bacon now.
Va teacher on November 10, 2010 at 06:34 AM
I've noticed something else...t-bone steak at $4.99/lb. At first glance, that might seem a good sign, but as someone who grew up on a farm I can tell you it isn't. Farmers are thinning their herds of dairy cattle because of rising feed prices. Once that cheap meat moves through the system, watch out! The inflation is already started...
sydney jane on November 10, 2010 at 06:52 AM
I noticed the same at my supermarket (Safeway) in Maryland about a month ago. At the time, it wasn't just bacon; the "cheap" ground beef was close to $5 a pound!
I think I'll take the suggestion of one other posters and stockpile bacon in my freezer...and just pray we don't lose power in a big storm!
William Ruffian on November 10, 2010 at 07:09 AM
Economically, we are reliving the 70s exactly.
When capital can't get a return in financial markets, it moves to commodities. That's why bacon (pork bellies) is rising faster than some other foods.The increase is mostly the price of speculation.
It'll all go higher still until the followers of JMK are extirpated.
Wally Ballou on November 10, 2010 at 07:24 AM
My local Virginia Food Lion - this week's circular - Gwaltney bacon - 2 lbs for $5.
Anyway, when food dollars are tight, we need to stop paying big premiums for conveniences like pre-cooked bacon (and bagged salad, though I love it). Bacon freezes well too, so look for sales.
Tom on November 10, 2010 at 08:39 AM
You can get near equivalent convenience with the fully cooked bacon by par cooking uncooked bacon in the oven until it has just a couple of minutes left before its done, then refrigerating it and finishing it off in the microwave for about 30-45 seconds when you want to eat it. Plus you get the bacon grease for flavoring other dishes.
kman on November 10, 2010 at 08:59 AM
This is a no-brainer people. We ARE going to have massive inflation and for quite a while (WAY too much money being printed that are chasing too few goods). We are starting to see the signs now (higher bacon prices, higher meat prices, higher food prices in general are starting).
rcooke on November 10, 2010 at 09:07 AM
The idea of buying pre-cooked bacon sounds pretty horrifying. I just bought 2.5# of Niman Ranch raw pork belly at WF for $4.50/lb. It's curing in the fridge right now and I may or may not smoke it (apple wood) when it's done. This is my first attempt at such a thing and if it works out well I'll do several pounds and put it up in the freezer. Now is the time of year to do it... animals are fat and on the way to the butcher. Duck confit is next week.
Meatsss on November 10, 2010 at 09:24 AM
The reason bacon is so high is that many grocers had specials early in the year advertising bacon 2 lbs. for $5.00. This extra activity depleted all the supplies of frozen bellies. Add to that the different fast food vendors that are adding bacon to a lot of their selelctions, and you come up with a shortage of bellies. Pork in general has risen in basic costs. The days of cheap bacon are over.
Josh Reiter on November 10, 2010 at 11:02 AM
I was stocking up groceries for the week this last Sunday and stopped by to look at the bacon because I hadn't bought any in a while and suddenly had the taste for it. My jaw dropped when I was expecting $2.50-$3.50 a package (North Texas) and instead saw it was up around $4-$4.50. I opted for the Corn King brand which is usually very thinly sliced and mostly fat. But oddly enough it actually looked fairly thick cut and marbled nicely and was $3 (for something that normally ran for $2). My guess is that the increase in prices has caused the producers to improve quality somewhat to give consumers the incentive to buy what could be perceived as a higher quality product, thereby justifying the higher cost. That and the higher cost is going to reduce demand so more choice cuts can be selected for packaging as the overall supplies are reduced in quantity.
I noticed my grocery bill for the week in general had gone up quite a bit. I was just picking up odds and ends to complete some recipe ideas that I already mostly had on hand in the pantry at home. I had to do a double take at the receipt for a price that normally amounted to a more full fledged restocking. It's the quantitative easing that is already starting to filter out to the economy in the form of inflation. Inflation in particular impacts the price of commodities like food and fuel.
Ronald on November 10, 2010 at 12:41 PM
The bacon I buy is $7.50 for 1.5lb package (Wright brand). It was $4.99 for the longest time. It's the thick slicked stuff, I buy both Hickory & Applewood smoked varieties. It's not just bacon, I'm finding everything is up at least 15¢. The Bob Evans Hash Browns I buy used to be two for $5, now it's $2.79 per package. The butter I buy at Costco went from $1.69 per pound to $2.08 per pound. The eggs I buy went from $4.69 to $5.69, but they increased the package size from 18 to 24 so six more eggs added a buck.
Patricia Babb on November 10, 2010 at 12:58 PM
I'm very thankful for streaky bacon. I'm an American living in London and I say, "there's bacon, and then there's bacon." I took a picture of the bacon section when I was back home last week. Oh, regular old bacon, I miss ye. I buy it when I can find it, at nearly any price -- though I don't buy the pre-cooked slices -- golly, a person needs to smell the bacon frying. The anticipation of eating bacon makes it all the more wonderful, doesn't it?
Comanche Voter on November 10, 2010 at 05:01 PM
Corn prices are up and that rolls through the whole supermarket. Chicken, beef and bacon will cost more. Breakfast cereals will cost more. Anything with corn sweetener in it (which is pretty near everything in the supermarket) will cost more.
You can think your friendly green folks who decided that ethanol, made from corn, should go in gasoline. The ham and eggs on your breakfast plate are competing with your car's gas tank. Only one way for prices to go in the long run.
Jenny on November 11, 2010 at 09:42 AM
Buy all my meat at the local farmer's market. Prices are reasonable, sometimes downright cheap and you know it's fresh.
Scott on November 11, 2010 at 10:37 PM
And Sudeep Reddy says Palin is wrong on rising grocery prices.
jborden on November 14, 2010 at 07:28 PM
This is just a precurser to what is to come. The dollar is toast. Bacon is great, tastes good, keeps well, and I love to roll on it.
The bacon it'self is great to flavor with and the grease is very tasty in refried beans, cornbread, etc. Stock up, on bacon and all other food items that store and can be combined to make nutritional meals for your family. A closet full of food is going to be worth far more than a new HD tv. Best of luck to you out there.
John on November 16, 2010 at 10:32 AM
Precooked? But why rob yourself of the glorious scent of cooking bacon? If Proust were a southern boy, he would totally back me up on this.
consumer man on November 17, 2010 at 03:04 AM
I am glad I am not the only one who has noticed the rising bacon prices. Here in Florida, I used to buy a 1lb package for $2.50 for the longest time, then the 12 oz packages started showing for the same price.
Now a pound of bacon is almost $4 a pound....
butter is another item that has increased sharply in price. I gotta have it since I do not eat margarine....
Yo tardos on November 22, 2010 at 08:59 PM
http://money.cnn.com/2010/08/24/news/bacon_prices/index.htm