I don’t know about your definition of “living wage,” but In-n-Out has a long-standing reputation for paying decent and above-market wages, both in 2016 and today.
I would guess that most of the current price premium over inflation is attributable to the current record high beef prices owing to a record low North American cattle herd.
"Record high beef prices due to an orange dumbfucks trade war with everyone. "
Historically when prices spike the U.S. herd size is sold down quickly to capitalize on the higher prices. When the international producers see the prices start to climb, they build up their herds and flood the market a year or two later exporting into the U.S driving down the prices. Everyone who raises beef knows to sell down hard when prices spike to capitalize on the money when they can. Usually these leaks only last around 18 months.
Guess what happens when a trading partner starts to play stupid games? The traditional suppliers kept their herd sizes stable to limit economic risk due to uncertainty.
To make the issue more severe. Beef producers (cow/calf operations) traditionally have multiple revenue streams, cattle and some crops (usually hay). Hay, corn, soy etc are all dependent on export business. Guess what fucking with trading partners does? It’s cratered the price of all of these crops. End result, they sell more cattle to make ends meet further decreasing the herd size.
$3.70 adjusted for inflation is $5.11.
A double double now costs $6.35-$6.50 (depending on your location)
I’m not familiar with In-N-Out, but I would honestly be ok with this if it meant that in 2016 they weren’t paying a living wage and now they are.
I know that’s probably just wishful thinking though.
I don’t know about your definition of “living wage,” but In-n-Out has a long-standing reputation for paying decent and above-market wages, both in 2016 and today.
I would guess that most of the current price premium over inflation is attributable to the current record high beef prices owing to a record low North American cattle herd.
Let’s correct that little statement.
"Record high beef prices due to an orange dumbfucks trade war with everyone. "
Historically when prices spike the U.S. herd size is sold down quickly to capitalize on the higher prices. When the international producers see the prices start to climb, they build up their herds and flood the market a year or two later exporting into the U.S driving down the prices. Everyone who raises beef knows to sell down hard when prices spike to capitalize on the money when they can. Usually these leaks only last around 18 months.
Guess what happens when a trading partner starts to play stupid games? The traditional suppliers kept their herd sizes stable to limit economic risk due to uncertainty.
To make the issue more severe. Beef producers (cow/calf operations) traditionally have multiple revenue streams, cattle and some crops (usually hay). Hay, corn, soy etc are all dependent on export business. Guess what fucking with trading partners does? It’s cratered the price of all of these crops. End result, they sell more cattle to make ends meet further decreasing the herd size.
Edit:Sorry, wrong comment.
In my location the price is N/A. We don’t have in and out burger in Ohio.