Sysco Corp. reported a lower-than-expected quarterly profit, with the largest U.S. foodservice company saying “extreme” inflation in meat, seafood and dairy products increased its costs and curbed customers’ purchasing budgets.
Meat prices are expected to continue rising this year as soaring feed costs discourage herd expansion. That’s raising concern over consumers’ willingness to pay for steaks, chops and other pricier foods with unemployment still high.
Huzzah! All food prices are going up, but animal products are being hit especially hard. Could this be the end of cheap meat? (Via Jolley.) Link.