With the amount of effort it takes to raise the cow, and the amount of environmental damage it does, beef only costing $9 per pound is almost criminal.
While true, I think the point here is that Loblaw collects a high margin irrespective of the beef’s cost to make. But yes, the cost of meat has been historically absurdly low. Another example of the market not pricing in externalities.
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With the amount of effort it takes to raise the cow, and the amount of environmental damage it does, beef only costing $9 per pound is almost criminal.
People buying the premium cuts pay for the cow. Ground beef is the parts they can’t sell as steak or roast or stir fry
It should be cheap
Low fat ground beef should be a little more expensive as trimming the fat before grinding takes skilled time
While true, I think the point here is that Loblaw collects a high margin irrespective of the beef’s cost to make. But yes, the cost of meat has been historically absurdly low. Another example of the market not pricing in externalities.