Consumers will pay more for beef and poultry this summer in the US
Frozen Bone-In Beef
Other Frozen Beef Parts
Meat
United States
Published Mar 30, 2023
Tridge summary
Memorial Day or Fourth of July cookouts will be more costly this year as chicken and beef prices remain high. Derrell Peel, livestock marketing specialist with Oklahoma State University Extension, said beef production from the nation’s biggest packers continues to slow.
Original content
He said Tyson Foods, Cargill and other large operators continue to reduce production amid decreases in cattle slaughter and lower carcass weights. Peel said beef production averaged 6.4% lower over the past four weeks compared to a year ago and there is no sign of improvement. The U.S. Department of Agriculture reports steer slaughter is down 5.3% year over year in the past month and steer carcass weights have averaged 903 pounds, which is 16 pounds lighter than a year ago. Beef cattle slaughter was down 13.6% over the past weeks compared to a year ago. The “choice” boxed beef cutout values averaged $285.13 per hundredweight last month, up 11% from a year ago. The cutout values relate to the wholesale prices for the sum of the parts that are eventually sold into retail. The higher wholesale prices are led by a 21.4% jump in rib values, and 15.5% increase in loin cut values. Lower quality chuck cuts are 8.5% more costly than a year ago. Short plate cut prices are up 13.5% and flank ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.