John T. Barone, president and commodities analyst for Market Vision Inc.
The assault on restaurant food costs has been unrelenting this year as commodity prices continue to shatter all-time record highs. Last week, hog futures ($119.30/cwt), class III milk ($23.29/cwt), block cheese ($2.3625/lb.), No. 120 beef brisket ($2.74/lb.), No. 168 top rounds ($3.19/lb.), 50-percent lean beef trimmings ($1.62/lb.), 90-percent lean beef trimmings ($2.62/lb.) and nearly the entire pork complex reached new highs. Additionally, in last week’s WASDE report, the USDA made ...
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