Department of Agriculture (USDA) forecast a 2% fall in beef production for the entire 2024, to less than the 26.455 billion pounds of 2023. This is however a slight fall, for analysts had expected a greater slump.In 2023, retail ground beef, steak and veal prices increased by about 3.8%...
The price of beef is expected to remain high. The pork belly, cheddar cheese and salmon markets are expected to remain stable while the chicken prices are expected to increase. The low acreage numbers and planting delays are expected to cause erratic lettuce and tomato markets....
farmers reduced the size of their herds to cut costs — and some got out of the business altogether. Now, the U.S. cattle inventory is the smallest it’s been since 1951. That huge drop in supply has pushed prices for ground beef and sirloin steak to all-time highs. Supply-chain ...
Beef, on the other hand, is in shorter supply due to record-low cattle numbers driving up prices for consumers. At an average of $9.35 per pound, sirloin steak is up 2.3% from January 2023, according to the report. Ground beef prices have risen even higher, with prices currently averagin...
ItemQuantity2020 Price ($)2018 Price ($) Round steak1 kg17.3818.50 Sirloin steak1 kg22.5122.54 Prime rib roast1 kg33.2332.02 Blade roast1 kg16.7416.51 Stewing beef1 kg15.9616.05 Ground beef, regular1 kg11.9512.53 Pork chops1 kg12.1512.30 ...
Per BLS data, the average price per pound of ground beef rose to a new record-high in May, up 3.6% from the prior month – the largest MoM increase in 19 months – and 25.1% since the start of 2021. That is a much larger increase than observed among prices for all meats, poultry...
Beef cattle from Peine Farms in Cannon Falls, MN. Jodi Gralnick | CNBC Analysts say that the demand for beef usually tapers off by summertime, with consumers switching from the costlier cuts of steak they favor earlier in the year to cheaper ground beef, and even to red meat alternatives...
Drought, as well as high grain prices and interest rates, have contributed to record-high prices for products like ground beef and steak. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or...
Speaking of wholesale beef prices, on May 5th, thevalue of choice-graded beef carcassessurged by 63%, hitting a record high of $422.57. Over the past two weeks alone, the price of wholesale ground beef has shot-up by around 40%. It’s forecasted that the price of beef at retail will...
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