Economics Thread
- Thread starter sturg33
- Start date
GoT
High School Draftee
Interesting.... if federalies not slaughtering 150m chickens, forcing a shortage, then production is normalish and prices reflect actual demand
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GoT
High School Draftee
cope
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Tapate50
Well-known member
Just need the dems to start saying Thank you for all this.
zitothebrave
Connoisseur of Minors
Wholesale is currently dropping because demand is down, Easter is coming and if the supply isn't high enough egg prices will shoot up. It's not super likely that the supply will be back.
Egg prices will go down unless another bird flu epidemic happens. The perople that know the market the best, said by around may they expect the real pricing easing to happen with low demand and higher supply as theoretically the next wave of chickens post culling would be of laying age.
zitothebrave
Connoisseur of Minors
I need you all to apologize to Biden for takign for granted the great egg prices we had under sleepy joe.
Tapate50
Well-known member
Never noticed. My egg prices are left unchanged for...like 7-8 years.
sturg33
I
Whats the diversity rate among those other countries?
nsacpi
Expects Yuge Games
I've been strolling the streets of Amsterdam the past week and I see quite a bit of ethnic diversity. And indeed the data indicate that it is less than 50% ethnic Dutch. Rotterdam is even more diverse, less than 40% ethnic Dutch.
Btw our life expectancy data look similar to these other countries if you restrict the sample to blue states.
Tapate50
Well-known member
That’s his point
57Brave
Well-known member
More than 600 Iron Range steelworkers out of work as auto industry cuts orders because of tariffs
Cleveland-Cliffs, the largest iron ore operator in Minnesota, is idling operations in Hibbing and Virginia.
By Emma Nelson and
Jana Hollingsworth
The Minnesota Star Tribune
March 20, 2025 at 6:09PM
More than 600 Iron Range steelworkers will be out of a job as mines that supply the struggling auto industry go offline.
Cleveland-Cliffs will temporarily idle two Minnesota operations: Hibbing Taconite Co. in Hibbing and the Minorca Mine in Virginia. The Ohio-based company, North America’s largest producer of flat-rolled steel, has notified the state of the upcoming layoffs, according to a statement Thursday.
“These temporary idles are necessary to rebalance working capital needs and consume excess pellet inventory produced in 2024,” the statement said. “We remain committed to supporting our employees and communities while monitoring market conditions.”
While Cleveland-Cliffs executives say they expect President Donald Trump’s tariff plans to shift the industry in their favor, tariffs are shaking up the U.S. auto industry and could have downstream effects on American-made steel.
After a 60-day period under the federal Worker Adjustment and Retraining Notification (WARN) Act, 630 employees will be laid off, according to the company. The two plants produce steel pellets used in automobile manufacturing.
The Hibbing mining operation will be partly idled. About 250 workers will be laid off there; about 350 will remain on the job, according to the company.
As Trump’s nascent trade war takes hold, Minnesota taconite producers may benefit from a 25% tariff on steel. Still, analysts aren’t anticipating the import tax will boost domestic production enough to replace imported steel. U.S. steel production capacity rose just 7% after tariffs were implemented during Trump’s first term, according to a March 12 report from RBC Capital Markets.
Meanwhile, new tariffs on imported goods from Canada, Mexico and China are throwing a wrench in the American auto industry, which is largely unprepared to shift production to home soil. Earlier this month, Trump granted U.S. automakers a one-month exemption on tariffs on imports from Mexico and Canada.
“It’s my position that strategic, smart tariffs on critical industries that protect our domestic supply of things like steel are really critical,” said state Sen. Grant Hauschild, DFL-Hermantown. “My fear is that, while I do support tariffs on targeted areas, perhaps what we are doing is having reverberations that go far beyond what we were thinking.”
Cleveland-Cliffs is closing its Hibbing taconite operation, which produces iron ore pellets. (Ariana Lindquist/Bloomberg News)
Mining is the backbone of the Mesabi Iron Range, employing thousands of people and shoring up the regional economy. It’s also a political wedge, pushing the historically Democratic stronghold to the right as division grows between those who rely on the jobs the mines provide and those concerned about the industry’s environmental impact.
Longtime Virginia Mayor Larry Cuffe Jr. said the move is “disappointing and devastating” to the affected families on the Iron Range. He said a representative from Cleveland-Cliffs assured him it was temporary but couldn’t give a timeline for idling beyond “when the steel prices get better.”
Cleveland-Cliffs, the largest iron ore operator in Minnesota, is idling operations in Hibbing and Virginia.
By Emma Nelson and
Jana Hollingsworth
The Minnesota Star Tribune
March 20, 2025 at 6:09PM
More than 600 Iron Range steelworkers will be out of a job as mines that supply the struggling auto industry go offline.
Cleveland-Cliffs will temporarily idle two Minnesota operations: Hibbing Taconite Co. in Hibbing and the Minorca Mine in Virginia. The Ohio-based company, North America’s largest producer of flat-rolled steel, has notified the state of the upcoming layoffs, according to a statement Thursday.
“These temporary idles are necessary to rebalance working capital needs and consume excess pellet inventory produced in 2024,” the statement said. “We remain committed to supporting our employees and communities while monitoring market conditions.”
While Cleveland-Cliffs executives say they expect President Donald Trump’s tariff plans to shift the industry in their favor, tariffs are shaking up the U.S. auto industry and could have downstream effects on American-made steel.
After a 60-day period under the federal Worker Adjustment and Retraining Notification (WARN) Act, 630 employees will be laid off, according to the company. The two plants produce steel pellets used in automobile manufacturing.
The Hibbing mining operation will be partly idled. About 250 workers will be laid off there; about 350 will remain on the job, according to the company.
As Trump’s nascent trade war takes hold, Minnesota taconite producers may benefit from a 25% tariff on steel. Still, analysts aren’t anticipating the import tax will boost domestic production enough to replace imported steel. U.S. steel production capacity rose just 7% after tariffs were implemented during Trump’s first term, according to a March 12 report from RBC Capital Markets.
Meanwhile, new tariffs on imported goods from Canada, Mexico and China are throwing a wrench in the American auto industry, which is largely unprepared to shift production to home soil. Earlier this month, Trump granted U.S. automakers a one-month exemption on tariffs on imports from Mexico and Canada.
“It’s my position that strategic, smart tariffs on critical industries that protect our domestic supply of things like steel are really critical,” said state Sen. Grant Hauschild, DFL-Hermantown. “My fear is that, while I do support tariffs on targeted areas, perhaps what we are doing is having reverberations that go far beyond what we were thinking.”
Cleveland-Cliffs is closing its Hibbing taconite operation, which produces iron ore pellets. (Ariana Lindquist/Bloomberg News)
Mining is the backbone of the Mesabi Iron Range, employing thousands of people and shoring up the regional economy. It’s also a political wedge, pushing the historically Democratic stronghold to the right as division grows between those who rely on the jobs the mines provide and those concerned about the industry’s environmental impact.
Longtime Virginia Mayor Larry Cuffe Jr. said the move is “disappointing and devastating” to the affected families on the Iron Range. He said a representative from Cleveland-Cliffs assured him it was temporary but couldn’t give a timeline for idling beyond “when the steel prices get better.”
zitothebrave
Connoisseur of Minors
https://www.cnn.com/2025/03/21/business/doordash-klarna-buy-now-pay-later-partnership/index.html
One great sign of an economy. Putting food delivery on lay away.
One great sign of an economy. Putting food delivery on lay away.
I’ll be really glad when we can just be done with egg price updates specifically. Whether you believe culling chickens to stop the avian flu is right or wrong, egg prices were always going to go down when either the Biden Admin *or* the actual flu itself stopped killing bunches of chickens. Focusing on one good that has a very specific cause for its supply decrease is just as dumb as focusing on fuel prices during COVID.
You’re quite right. Democrats have seized on egg prices because it was politically convenient, but it’s just lazy trolling. You can’t claim to be the party of the working class and the little guy and turn around and spend all your time pissing and moaning about the price of an item that is not following the overall market trends to score cheap political points. It was wrong when Republicans did it 3 months ago and it’s wrong today when Democrats do it.
zitothebrave
Connoisseur of Minors
It's simple tit for tat. JD Vance was the one on the campaign trail talking about eggs while MAGA was freaking out online. Once trump went into office every MAGA became an expert on Bird Flu and the supply chain.