With unemployment and home foreclosures plaguing the US, many Americans are looking into a really lean Fourth of July making many ask what’s the point of celebrating American independence when they don’t have jobs and even backyards to have the traditional barbecue.
Provided that some have still homes in which to celebrate the holiday, the meat on the grille will most likely reflect the state of the US economy as well. Hot dogs and hamburgers might be replacing more expensive meats like steaks due to budget concerns.
Meat (beef and pork) sales have been slow despite the spring and summer periods where backyard barbecues have been tradition. However, with the average US family strapped for cash, many look into saving every possible penny even if that meant sacrificing the barbecue.
The slow sales have also hurt the meat industry. Cattle and hog farmers have struggled with high feed costs but can’t recoup due to slow sales.
As for more affordable meats, McDonalds’ launched its new meat-in-a-bun offering with $4 Angus beef burgers. An Angus burger boast of one-third pound of typically pricey Angus beef. A cheapskate alternative for which some will surely opt.
Source: MSNBC
