Tridge summary
In November 2023, the average retail price of fresh beef was $6.44 per pound, an 8.9% increase from the previous year. Despite a slight decrease in total fresh meat sales for November 2023, beef accounted for nearly half of all sales dollars at $2.3 billion. Looking ahead to 2024, the U.S. Department of Agriculture forecasts that beef production will be around 26 billion pounds, with an expected decrease in beef and veal exports and a slight increase in imports compared to 2023.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
For November 2023, the average retail price of beef increased by 8.9% per pound due to supply constraints, according to Circana retail sales analysis. Prices for fresh beef averaged $6.44 per pound. Looking at the 52-week period from November 2022 to November 2023, fresh beef prices averaged $6.19 per pound, up 2.8%. For November 2023, Circana research finds that total fresh meat sales totaled $4.8 billion, with beef accounting for nearly half of all sales dollars at $2.3 billion. Total dollar sales of fresh meat were down slightly (-0.7%) for November 2023, with pounds sold down -3.4% compared with November 2022 pounds sold, according to Circana. While fresh beef saw pounds sold for November 2023 down -3.9% compared to year-ago levels, the price pound was up 4.6%. For the 52-week period ending Nov. 26, 2023, total fresh meat sales hit $57.8 billion, with fresh beef accounting for $31 billion of that total. Dollar sales growth for fresh beef performed slightly better than the ...
Source: Provisioner
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