Beak Capitalism, Part 1: Chickflation
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the chicken sandwich war on twitter has people clocking .

all over the country is chicken chaos, walking long, lying outside. People, if you didn't jump on that pops chicken sandwiches, raz. You post ally out.

beatings, stabbings and even car crashes, people behaving very badly in los Angeles across the country, for that fact, trying to get their hands on pop eyes. Chicken sandwich N L A two .

people on twelve 20 poppy's released their famous chicken sandwich。 IT was a humble fried chicken breast with pickles and mail on a rios pn, Priced at a very reasonable three ninety.

Some people called IT a masterpiece. Some others were just grilled to see a delicious alternative to check the late to be on us. I can't actually remember whether I had IT or not.

I just say those are really, those are really delicious. I totally get that. I get people of all these sandwich.

Es, i'm sure you remember what happened after this show. Dozens of imitators, ors were launched. I mean, talk bell of all places, even the diversion, a crispy chicken sandwich, toko and chick, the lay came out swinging.

They claim that they are not. Pop eyes were the original inventors of the chicken sandwich. Meanwhile, POI struggle to keep the sandwiches.

Stock flights broke out. There was even a lawsuit. A guide from tennessee asked for five thousand dollars in damages after he couldn't get hold of one. The chicken sandwich craze was pure maham, or should I say mayhem?

But what's really important about the chicken sandwich wars is that they never really ended. Okay, you weren't seeing them hit the headlines in quite the same way anymore. But on venues around the country, chicken is more popular than ever.

Burger chains have been launching chicken wings. Donor shops have chicken reps. So you might have an opinion on who ultimately won the chicken sandwiches attal. But the real winner of the war is the chicken itself. Or maybe I should say the real winner is the american leader.

Yeah, uh, there are more chicken products on offer than ever. In fact, america's consumption of chicken continues to grow even as appetites for other types of meat like beef have stalled. The average american consumed a wapping hundred sixteen pounds of chicken in twenty twenty three, and that number is only expected to grow, making chicken by far the most consumed me in america.

Each of us is eating something like twenty adorable chickens worth of White me every year. And what's interesting is that been happening even as poultry Prices have surged. Fresh whole chicken used to cost about a dollar sixty per pound a decade ago. IT now goes for almost two bucks. That's an almost twenty five percent increase and higher than the jump in broader inflation, which, as we all know, has been a huge deal in recent years.

So speaking of inflation, egg Prices have become a prime example of recent Price pressures, with wholesale egg Prices surging by two hundred seven percent between twenty twenty two and twenty twenty three, chicken farmers blamed outbreaks, a bird flue for the increase. But some sad is corporate Price gouging result of a handful of powerful companies supposedly taking advantage of consumers at a difficult time.

And generally, IT looks like the bird flu was a big part of the story. But I did have IT at the time when Price for all kinds of things were surgery. So it's easy to understand why people saw that is as a micros.

So we have to ask, what exactly has been driving the Price increases in eggs and that sweet, sweet chicken meat? Why has the chicken industry evolved in the way that that has? And what does that say about the nature and future direction of america's economic model?

Welcome to beat capitalism in which we explore some authority as issues facing the U. S. economy. Through the medium of .

chicken in the special three part series from all sorts we are going to examine.

So there's going to be chicken point.

There are definitely going to be chicken punts get used to IT. Now we are going to examine all of these questions and more because IT turns out chicken has a lot to say about things like inflation and the relationship between workers and big companies. And IT create some big existential questions about what kind of economy we actually want to have. First up, what actually happens when the Price of a chicken sandwich or an egg, or even a simple chicken wing takes five?

The chicken sandwich wars were an extremely chAllenging time for me as a person. IT was hard to my family. I was hard to my friends, mainly because every time I agree, a press released about the I had to go buy one, I show me chicken sandwiches during that war I was the real casualty on the one that had a taught ter in drive two hours of the news POS to go try the same.

which I didn't. That's just in Michael roy. He's one third of the my brother, my brother and me podcast, and the chicken sandwich wars were a big deal for him. He spends part of the podcast reading out fast food press releases, and there were a lot of those flying around at this time.

A lot of american fast food competition, especially during the time period, is happening amid the late to thousands israeli race to the bottom of who can sof like reorganize the ingredients in the kitchen in the most disturbing way to try to net headlines. You we'll put some deed's in IT. Look, we found some free dos line around. We shoved that in IT.

Do you like this? Is this anything? And a lot of IT seem pretty desperate. And I think what was so interesting about pop eyes, chicken, say, which is that they had the the courage as a brand to say, what if we just made something good? And that was kind of the whole hook was IT was really good to eat, and IT was wild. And this is just the same, which that was a you got famous for being extremely good eat, which I think was a real breath fresh chicken.

So the nation's def chicken war correspondent, Justin, has thought a lot about why this particular combo took off. Like I did, should there was a novelty value and they were delicious?

I tend to believe that the best chicken sandwich is the one that's nearby.

but chicken, wich is also a cheap.

I know we are wild about these things as as a nation especially one of the great things is that is cheap er than beef. So we hear just wild about that. And I think we will continue to be as long as we got all of millions of people to feed.

chicken is still relatively cheaper than a lot of other types of meat, but that doesn't mean that Prices for chicken products never went up. Today, a poppy spicy chicken sandwich costs close to six dollars in many cities. That's about a fifty percent increase from its launch Price of three ninety nine. And that Price went up despite that intense competition among the sandwich makers and that respect .

the chicken sandwiches. Ars might be emblematic of some wider pricing. Trans people have chicken, whether it's a sandwich form or something else. We keep buying IT even as Prices go up and companies keep giving us new ways to consume.

Me to understand that, we need to talk about my personal favorite chicken item when, but the demand for chicken wings is pushing the Price to historic levels. So how high will the cost of eating wings go? Your super boal party is GTA cost about fourteen percent more than IT did last year. A lot of this is the labor shortage, the supply chain crunch, and the restaurant and supplier say Prices for chicken wings have gone through the roof.

It's no brainer. The wing stop is getting in on the chicken sandwich wars, but with its own twist.

Wing stop is one of the biggest wing chains in america, and even they got into the chicken sandwich game. In twenty twenty two, the company launched the zone sandwich offering, introducing not just one but IT doesn't different flavors of chicken and carb combos.

So we saw an opportunity to do IT different, to do IT the wing stop way. And the launch was was pretty incredible because we plan IT out. We did all of our forecasting and we were confident we had plenty of inventory when we love to be able to meet any sort of scenario, we could come up with the round demand. But the fact was we sold out in a week, which is pretty remarkable to just see strategy was right, the timing was right, anything was wrong as we didn't plan for that much volume that we were able to take a step back, build up supply, recharge again. And IT has been a bit of a game change for our brand because we're bringing in a record number of new gas into a brand quarter after quarter.

That's wing stopped CEO Michael skipworth and he says chicken sandwich es did a couple things for his business. They got a bunch of new customers through the door and boost sales, of course. But there was something else too.

There is also a supply chain side of the strategy. The more breast meat that we use, which is where that chicken sandwich full leg comes from, where are bala swings come from, the Better. IT puts us in a position to negotiate our overall by with these poultry companies and help us execute our supply change strategy, which is really one that centers around in chicken wings.

And this is where we need to talk about our wings actually come from.

is IT from chicken?

yes. But according to Michael, chicken wings are one of the most volatile commodities out there. And obviously, there are a huge component of wing stabbed business. The company says it's the biggest customer for wings in .

the country about volatility and chicken wings. And what that can do to the wing stop restaurant p nl. IT could be as much as a ten percentage point swing in our food cost, which is incredible amount of fluctuation.

Now the reason you see so much volatility in the Price of wings is the reality of the fact that these poultry companies, they are not growing these chickens for the weeks. There's setting the size of flock, how many birds you're going to harvest based on breast meat demand. The chicken wings themselves represent six to eight percent of the bird is a fall of product.

And so why you seem so much volatility in the Price of wings, it's clearly as a supply demand dynamic by the demand is not what's a driving the supply. It's really snored around the overall market for breast me. And so that's what's created a lot of volatility commodity. And there can be years where that spot market hits below one dollar a pound and then take a year like twenty twenty one after the pandemic, where every single brand out there added chicken wings to their menu, you saw that spot market hit an all time high of three dollars and twenty one cents a pound.

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Not everybody likes talking about money. Some people find IT awkward. Sometimes they even find a little embarrassment.

I do not. I like talking about money. Mother is just about writing about a little bit more a marie somes at work. And every week scene, you're a voted john epic. I answer your questions about personal finance, and we discuss the best strategies for making the most of your money. Listen in for the guide of insight, to explanations, and everyone can use out to make Better saving and investment choices for themselves and their families.

My question is whether you think maxing out my complete pension match is enough for when IT comes to saving for my pension?

Should I attempt to pay my child's university fees and living costs?

My partner and I have access savings, so should we overpay on our mortgage, or should we put the money .

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Like a lot of things in the aftermath of the pandemic, the Price of chicken, we just in twenty twenty percent between, there were the usual supply chain disruptions. A lot of poultry processors had to curb production because of worker shortages. Labor costs went up, sorted chip and packaging costs.

but there was higher demand to americans reacted to the trauma of the pandemic in what I think is a very related, able way. They ordered wings, lots of them. Demand for chicken wings jumped when we were all isolated. After all, wings are both delicious and can be transported pretty easily. Anyone who's ever ordered a couple dozen at two A M, because they're the fastest and most delicious thing around, probably knows this well.

At the height of the Price bike, some restaurants were even labelling chicken wings and, quote, market Price, you know, like lobster, some grocery stories put limits on the amount of drums and flats you can purchase. For a company like wings up, the soren n cost of its primary product proved to be an opportunity as well as a chAllenge.

And for one analyst, chicken wings became key to understanding the entire economy.

I M right, and i'm a microstrip gist with wisdom tree.

Part of sams job is to predict witters and losers in the micro economy. And in the years after the pandemic, if you wanted to understand who is winning, you needed to know chicken wings.

According to sam, wings are the perfect pandemic study of all those one off disruptions. IT gave companies a reason to raise their Prices, a strategy he calls Price over volume.

Price soa volume is the idea that companies coming out of the pandemic and through the ukraine crisis used the excuses and that they had to increase Prices well beyond what they would have in the propane mic russia invasion of ukraine period in order to maintain their margins in that environment that came at the expensive volumes.

So the idea of Price over volume is company is found IT much more interesting to increase Prices than to attempt to maintain their volumes over time. So your wing stops, your mcDonalds, your burger kings talk bell KFC. A lot of these restaurants really figured out that, you know, you kind of have IT out there that labor's getting more expensive, that your protein is getting more expensive so you can raise Prices and you can raise Prices pretty dramatically relative to what you could previously.

They learned very, very quickly that IT is much, much cheaper to gain margin by changing a Price tag. Then IT is to invest in putting more volume out there. IT float straight to the bottom line, and you don't have to move Prices down anywhere near as quickly as anticipated, if at all.

At a time when there .

were lots of shortages and higher costs, Price of a volume could be a pretty compelling strategy for businesses. In twenty twenty one, as chicken wing Prices were nearing their height, one stop set IT had increased menu Prices by about ten percent.

They talked about how their suppliers had worked with them. So they realized costs were rolling up like seventy percent still that you sell chicken wings in their up seventy percent in pricing. That's a pretty big deal for you. What was intriguing about that was he gave them an excuse to raise Prices, right? So what IT wins up to wing stop raised Prices and they raised Prices significantly.

Those Price increases didn't necessarily mean that wing stop was suddenly making a bucket load of chicken money, but being able to charge more did help protect their profit margins at a difficult time. As some points out, wing stop wasn't unique in this respect. A bunch of other companies like pepsi, home, deepo, even walmart, arguably did something for some.

What really differentiates the Price of a volume idea is what happened when chicken wing Prices started to come down, but wing stops to menu Prices didn't suddenly drop alongside them.

So they raise Prices. Where IT began to show through was at the other side of the chicken wing crisis. Chicken wing crisis fell, and they fell back to where they had been previously.

And they fell back, you know, call IT, from almost three dollars per pound back to around eighty five cents out. And those are peaked to kind of truth pricing. But if you think about that, that's a pretty powerful thing when you haven't moved your Price.

If you're wing, stop so you ve got the chase up in Price. You're not moving your Price lower to kind of give back to the consumer. You're maintaining that Price now. So all the sun, your margins have really begun to expand, and that's not going to go to wear anytime fast.

So the Price increases of the past can still be a tellin for a business like winds stopped today. The company says its increasing menu Prices by a smaller amount, just one, two points to the average, but they're still rising.

And from a higher starting point to in an economy where consumers keep spending, an entire industries are raising Prices altogether. At the same time, Prices can go up and stay there even when input Prices, the cost of actually making the stuff start to fall. It's an added wrinkle in the way we think about Prices and one that could come back to rear its ugly head even as inflation has slowed.

The meg is a twenty eighteen and science fiction film about a seventy five fat mega don, a giant shark, basically, that terrorizes a group of scientists working in the pacific ocean. For some rs though, may get something different. That can still be pretty scary.

Is IT a giant chicken?

No, here's some. What companies .

learned was really that consumers pay attention to the mag, right? Kind of scary shark out there, which is milk, eggs and gasoline.

That's the mug, milk, eggs and gasoline.

And when you have egg Prices that are going up dramatically and doing IT very quickly, you Better have an excuse to for that Price to be moving. And you you Better be able to explain why the cost of everything that includes eggs is also going up, whether it's many, whether it's bread acta, that's really going to have an effect in the consumer psyche. But at the same time, they're not necessarily going to step back from consuming IT. So a lot of the companies out there, whether it's hepsy, whether it's craft times kaga, they found the consumer demand is rather inelastic, that there is not anywhere near the sensitivity to Price, that they thought there was no pandemic per invasion.

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Not everybody likes talking about money. Some people find IT awkward. Sometimes they even find a little embarrassment. If I do not, I like talking about money. Mother is the order of the user of the trading flow, money, writing money and talking, writing about a little bit more a americans um that web and every week seen you're a voted john african eyes answer your questions about personal finance and we discuss the best strategies for making the most of your money listen again for the guy of insight to explanations everyone can use out and make Better saving and investment choices for themselves and their families.

My question is whether you think maxing out my complete pension match is enough for when IT comes to saving form my pension?

Should I attempt to pay my child's university fees and living costs?

My partner and I have access savings. So should we overpay on our mortgage or should we put the money into .

stocks from limbo podcasts to marine talks, money falling marine talks, money on apple podcast, or the five or wherever you listen?

People love chickens so much that even as Prices go up, they keep buying. I gotta MIT to my personal Price. Elasticity for chicken wings is extremely inelastic. IT is the opposite of a rubber band or a rubber chicken. If Prices go up, I am definitely still buying point taken.

but the idea that Prices, and by extension, inflation, might act a little differently in extraordinary times is starting to gain some attraction. And sam isn't the only one who is thinking about this.

My name is a belave aba. I am an economist at the university of massachusets amhara, and i've been working on inflation for a number of years. First in the context of china's position to a market economy, which was all about structural ruptures, and then in the context of the overlapping emergencies of recent years.

the soaring Price of chicken wings wasn't the result of a single thing. The events of twenty twenty call board supply James and LED to labor shortages. Russia invaded ukraine in early twenty twenty two, which caused the Price of grains.

The basic building block of poultry try feed to go up. Then there was an outbreak of bird flu, which will talk more about in a second. Demand for wings Spike at the same time, and companies like we stop responded to that environment by raising their Prices. Put IT all together, and you had a recipe for record wing flair.

IsaBella says the worries that these types of inflationary events, which he calls overlapping emergencies, are becoming more common. And this isn't just the U. S. phenomenon. Globally, Prices for portraits still up thirty three percent since the pandemic.

When we talk about the overlapping emergencies of recent years, I would refer to a conjunction of different things that have been kind of in the making for a wide, but that have been culminating in recent years and that are also not really going away. The first is, of course, climate change is no longer an issue that kind of build bother our children or grandchildren, but it's an issue that is relevant in the here and now. Global warming is a reality. Extreme Better events have become very frequent, pretty much anywhere in the world. If you ask people, can you think of an extreme, whether event, they will probably be able to name one that is not very far away from them? And in top of the situation around climate and whether we have mounting geopolitical tensions, we have an unstable global order that is as unstable as IT hasn't been in many years, if not decades, which all of these things can have implicated for the ability of production networks, for the stability of distribution and therefore ultimately for the stability of economies, societies and democracies and states um and so and which then of course has against feedback dimensions into the degradation of the natural environment, into climate change, into the fight against climate change and into the geopolitical environment.

There's another thing playing out too, when all these different emergencies at the headlines consumers hear about IT, they pay attention. And so when companies decide to respond to higher input Prices by raising their Prices, those Price increases might seem reasonable to customers, something if everyone is doing at. At the same time.

it's a different way of thinking about crisis to the way we usually do in traditional economics, we tend to think about Price as the result of the relationship between supply and demand when demand is high and supply as low Prices go up and the inverse happens to Prices go down. When demand is low, companies are supposed to compete on cost, but when they're .

all these emergencies and one of disruptions in the news, Price sitting starts to look a little bit more complicated. If everyone has an excuse to raise Prices because there's a major emergency like a global pandemic, then maybe businesses don't really feel as much pressure to .

lower Prices in the context of these overlapping emergencies and specifically in the context of tangibly shocks that consumer see and listen to on the news, watch them on T, V, such as climate dia, such as war, such as supply chain blockages, like, for example, of the images of the port of L. A.

That so many consumers have seen in that kind of context when they walk into the store and they see that Prices have gone up, they think that these Price increases legitimate or that these Price increases make sense. They don't come out of the air. This is to say that firms navigate Prices also as social relationships, as part of the relationship with their customers and on the demand side, this means that the elasticity of demand is not god given, but is context dependent, the willingness of people to pay its contexts dependent.

And of course, even if Prices for essentials like chicken go up, we can't just sub ating food.

although the inner mant fasting grows might try we may .

consume less of IT or try to find cheaper alternatives, but we can't stop buying IT altogether. And as isbel a points out in an inflationary environment, and might even be that people spend more on basics.

generally speaking, the more essential or the more basic a good is, the lower the Price elasticity, right? You can even get that kind of perverse effects. Or if inflation is high and consumers face squaze, they might end up spending more money on essentials than on less booths. And hence, their Price elasticity for these essentials might even be declining in an inflationary environment. And I would argue that firms are very much a way of that.

If you, for example, look at the earnings cause of tyson and the question of demand necessity on chicken um then you see that they refer to chicken as a protein that is a stepper that people have as part of their day today dieus as their daily bread if you want. So so that the demand elasticity is relatively low. So yes, I would argue that in the context of food and agriculture, when we talk about basic food staples, the demand necessity tends to be relatively low, which means that if Prices showed up, you do not get a strong demand response, and instead you basically get a very heavy costs burden Carried by consumers that cannot do without the stuff.

The meg strikes again. Not only do we pay more attention to the Price of essentials like milk, eggs and gas and chicken meat, but we don't have much of an option to stop buying them. Everything might taste like chicken, but that doesn't mean we all just stop buying the real deal. And speaking of essentials, let's talk eggs. The eggs census.

My name is clean higden. I'm the president of our family business, hickmans a grange and baka, arizona. We have a few million chickens, and we sell eggs around .

the southwest. Glen hick men runs the biggest egg Operation in arizona, IT still family owned, eighty years after glen's grandmother started the business with just a few egging hands.

This are eighty of year, and there is a picture hanging in my office that my dad is still alive, is ninety five years old, and he's in kind of a baby stroller with his father, who is feeding some chickens that are you? You will call cage free or free range.

Today, hickman family firms includes a feed mill and a processing plant that's capable of shelling more than seven hundred and fifty thousand eggs .

per hour sidewise. You know, eggs is probably larger than some and smaller than the biggest ones fit the egg business, still pretty concentrated. There's not much more than twenty or twenty five producers that really produce. Probably eighty five percent of the product is out there. So we have a few million chickens.

Hickman is on the supply side of the economy. He makes the things that other people are buying, in this case, eggs, but his customers aren't really you and me. Instead, he's selling to the big grocery stores.

Everyone knows who they are. There the wall Marks of the world, that the progress of the world, that the safeways, the all these those are national customers. And then we also have, you know regional retailers that Operate in in different areas.

And then you also have the institutional groceries, the national ones such as cisco N U S. Food service. And then you have regional retailers. Also beyond that, you have smaller distributors that tend to go into restaurants, you know produce companies, me companies, smaller institutional gross.

In early twenty twenty three, the structure of the gg market became exciting for all the wrong reasons.

That's so bad, right?

Look, i'm just gonna. If you don't like egg and chicken pones, you should already have exited the podcast.

Uh, H, I remember this wholesale Prices for eggs jump. Ed, if you look at the consumer Price index, eg, inflation reached the stunning seventy percent. You're on year.

a new emergency was raging avian flu, fresh off the back of the coffee, nineteen pandemic and all those saro supply chains. There was something new to worry about. Bird flu is highly contagious.

IT spreads rapidly, especially among chicken s that are crowded together in commercial pull try houses. They can die within days once IT strikes, and they can quickly wipe out entire flocks. yeah.

And if there's any sign of IT in a commercial bird or eg. Operation, chick's need to be cold. So the result of the most recent outbreak is that more than one hundred million birds have been lost in the U. S. That's an egg places soaring and even turn them into a political movement, something chicken sandwich is never really manage to achieve.

And we're trying to to do the best we can to get more eggs out there. I think it's unfair that when politicians, they use a dozen eggs as a benchmark for higher eg Prices in those kind of things. And I think that's just because people relate to eggs are like in ninety eight percent of all refrigerators, so they are stable. But believe me that the eight farmers in the united states are trying their dangers every single day to produce the maximum t of ways to satisfy the demand out there.

okay. So what is actually happening when the Price of eggs goes up? How do Prices hacks.

so to speak? Now you're getting into a joke. Okay, here's clan.

The egg market is coming. Unusual animal, the board of trade commodities, corn. So I beans on those kind of things. That's actual cash pricing that's transacted during the day. The egg business tends to be a little bit different.

There is a national market that's quoted by a third party that has no interest in neither retail or production, and they observe trades between unaffiliated ated parties. From there, they come up with an index that they quote each day, and the eight producers tend to sell off that index. So if the egg market is quoted up, then we go our Prices go up and quotes down and we go down.

But we really don't have a lot of leverage to say. G, I don't really care what the market is. This is what i've going to sell my eggs force. So we tend to all follow the same market, and we negotiate deals relative to that market with our major customers.

So when glen is selling his eggs to a customer, a big grocery store or someone like that, he starts with an egg index Price and negotiate a discount from there.

And of course, that raises the question of where the egg index Price comes from.

So the benchmark Price is set by the third part, and they collect data from many sources. Our industry owns a nonprofit called egg clearing house, and so it's blind trading. If I need to buy load of wages or I need to sell loads of wages, I posted on this clearing house, they match buyers and sellers, and that information is public.

The blind trading that participants are not known, but the kind of egg is detailed, the area from which is ship, the area from which is delivered in those kind of things. Additionally, we may trade privately with another producer. And when we do that, IT behoves us to have accurate market quotes. So it's Better to provide that information to the market reporter, whether IT comes from a public trading platform or .

private transaction, joe, which came first, the chicken or the egg Prices index. Okay, so when avian flu starts hitting laying flocks in the U. S. And farmers have to call sick chickens, IT takes a while to build .

back supply. What mostly affects the Price of bax is whether or not we have enough production to me, the Normal demand when you have to depopulate a flock or a form that's not Normal in our business. Normally, if a typical farm has ten buildings and they each have one hundred thousand birds, you probably have a flog going in and out about every two months, and you have the replacement growing capacity to accommodate that. So when you have an entire farm that goes out of production, the cold, as you say, and and now you have ten barns empty without any kind of outside help, if you will, you're gona grow a barn of replacement polls every ten week. So it's gonna take you an entire cycle.

The supply is clearly a factor in the benchmark, eg. Price going higher, but there's still an open question about what happens after that. Learn to eggs hit the shelves of grocery stores.

the bigger the customer, the higher the discount they can potentially negotiate from egg farmers like clan, but there are only so many companies that egg farmers can actually sell to.

The consolidation and concentration of the grocery industry has obviously had an impact on how every industry responds to that at one point time, hickman agree. Chat one hundred thousand chickens, and we thought we had to bow by the horns. We had plenty of customers that we can service.

Now a large grocer can consume in a region easily the age from a million birds each week. So we have these relationships now that instead of having twenty customers each by in fifty cases of eggs, we have one large cubine, the production from a million birds. So that concentration is always concerning.

And a chicken occupies a unique position in the U. S. diet. We eat a lot of IT, whether its eggs from the grocery store in sandwich form or take out wings. And like many things, Prices went up in recent years. Understanding what help do IT can deep in the way we think about inflation in general.

there's no single thing at play here. There's a lot of demand for chickens. People love IT. People need IT. And when there's lots of demand and supply get hit by overlapping emergencies, whether it's code or bird flu Prices go up .

and when all those emergencies are hitting and industry all at once, when they are all in the news, companies have a reason and excuse even to raise their Prices and potentially keep them there.

But recent issues facing the poetry industry illustrate a wider point about america's economy and the decisions being made about how I should be structured and who benefits from IT.

Next up on big capitalism, we are going from buying chicken sandwich to the business of actually growing the birds. Welcome to the thunder dome now with added chicken.

b. Capitalism is written by Tracy alloway, carbon Rodriguez and joy in fol.

produced and edited by caron with the help of kill Brooks and the. Our outlets steam sung and sound mixing was chickening zed by our engineer.

Lake maples, this meat survey of chicken industry pounds and information was factual. Ted by dason kill Brandon .

new num is our executive producer, and sage bowman is blomberg had a podcast.

if you enjoy the three part deep dive into the chicken industry, please consider leaving a positive review on your favorite podcast platform. Thanks for listening.

Not everybody likes talking about money. Some people find IT awkward. Sometimes they even find a little embarrassment. I do not. I like talking about money. Mother is the border of the use of the trading for money, writing money and talking, writing about a little bit more, a mariem at web, and every week seen you're a able to jumps epic an eye, answer your questions about personal finance, and we discuss the best strategies for making the most of your money. Listen in for the guy of insights, of explanations everyone can use to help them make Better saving and investment choices for themselves and their families.

My question is whether you think maxing out my complete pension match is enough for when IT comes to saving form? My.

should I attempt to pay my child's university fees and living costs?

My partner and I have access savings. So should we overpay on our mortgage, or should we put the money into stocks.

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