#beef-prices

#beef-prices

Cattle markets are holding firm through what is typically a quieter stretch of the year, underscoring just how tight North American beef supplies remain. In this mid-February Beef Market Update, Anne Wasko of Gateway Livestock Exchange joined Shaun Haney to break down pricing trends following CattleCon last week in Nashville. As the industry looks ahead to the second quarter-when supplies are expected to be at their smallest-Wasko says the seasonal outlook could still support stronger prices.

A sharp increase in grocery bills arrived soon after the COVID-19 pandemic hit in 2020. As supply chains all around the world were suddenly disrupted, the cost of pantry and fridge staples noticeably increased. But once the pandemic was over, prices kept climbing, resulting in a sharp and rapid inflation, the likes of which we haven't seen in half a century.

Two reasons for this are that prime rib can be expensive, and it takes a long time to cook properly. As the cost of beef has gone up and consumption habits have changed (i.e. people are eating less red meat due to health and environmental concerns), prime rib has become, well, even more of a "prime" product. In Milwaukee Mag, Ward's House of Prime owner Brian Ward described what goes into preparing prime rib for restaurant service, and it's no easy feat.

Fine Gael TD says protections are in place to counter any major disruption to beef prices

Beef prices are going up. Per recent reporting from Fox Business, industry leaders anticipate a top cost of $10 per pound by 2026. Yet, people's craving and appreciation for steak isn't going anywhere. Rather than heading out to a steakhouse (where business is, admittedly, also booming), many consumers are looking to their local grocery stores for steaks to prepare at home.

We would buy some beef from Argentina,

Trader Joe's is in growth mode, adding 30 new locations that will push it past 600 stores nationally. The expansion-spanning California, Texas, New York, Oklahoma, and more-is a striking contrast to the wave of retail closures hitting other chains.

Beef prices are hitting new record highs with the average price per pound jumping 9% to $9.26 since January and 12.4% over the past year.

The average price of a pound of ground beef rose to $6.12 in June, up nearly 12% from a year ago. The average price of all uncooked beef steaks rose to $11.49 per pound, an 8% increase.