Magnus
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- Jun 22, 2020
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Beef is getting cheaper, bringing some economic relief to U.S. consumers.
Prices of beef, typically among the costliest grocery store purchases, are falling after more than a year of increases, as consumer demand softens for some cuts. Supplies are improving due to better staffing at meat plants, and supermarkets are offering more discounts on rib-eye, New York strip and other often-expensive products.
Retail beef prices fell 0.7% for the four-week period ended Aug. 7, compared with the same period a year ago, according to data from research firm Information Resources Inc. That decline came after beef prices fell 1% during the prior four-week period, which was the first monthly decline since June 2021. U.S. retail beef prices hadn't fallen for two straight months in over a year and a half, though they remain at historically high levels.
Prices for rib-eye and beef loin are down nearly 10% for the four weeks ended Aug. 7 compared with a year ago, while brisket decreased about 18%.
Howard Radziminsky, a retiree who lives in Scottsdale, Ariz., said he recently bought rib-eye for $5.97 a pound and New York strip steaks for $4.77 a pound. Mr. Radziminsky, who follows a protein-heavy diet and eats red meat five to six days a week, said he hadn’t seen rib-eye sell for under $6 a pound in a while.
“Promotional prices have come back to where they were two years ago,” he said. “I always eat red meat. I’m happy.”
www.wsj.com
Prices of beef, typically among the costliest grocery store purchases, are falling after more than a year of increases, as consumer demand softens for some cuts. Supplies are improving due to better staffing at meat plants, and supermarkets are offering more discounts on rib-eye, New York strip and other often-expensive products.
Retail beef prices fell 0.7% for the four-week period ended Aug. 7, compared with the same period a year ago, according to data from research firm Information Resources Inc. That decline came after beef prices fell 1% during the prior four-week period, which was the first monthly decline since June 2021. U.S. retail beef prices hadn't fallen for two straight months in over a year and a half, though they remain at historically high levels.
Prices for rib-eye and beef loin are down nearly 10% for the four weeks ended Aug. 7 compared with a year ago, while brisket decreased about 18%.
Howard Radziminsky, a retiree who lives in Scottsdale, Ariz., said he recently bought rib-eye for $5.97 a pound and New York strip steaks for $4.77 a pound. Mr. Radziminsky, who follows a protein-heavy diet and eats red meat five to six days a week, said he hadn’t seen rib-eye sell for under $6 a pound in a while.
“Promotional prices have come back to where they were two years ago,” he said. “I always eat red meat. I’m happy.”
Your Steak Is Getting Cheaper at the Supermarket
Prices of beef, typically among the costliest grocery store purchases, are falling after more than a year of increases, as consumer demand softens for some cuts.
www.wsj.com
… Just might not be able to buy that case of Busch Beer with it!
