As the weather starts to show more signs of sunshine and family gatherings increase with summertime, the increased cost for red meats are causing some consumers to complain about the prices. Depending on the cut and type of meat, meat prices have risen at the retail level (Table 1). Beef prices are about 8 percent higher than a year ago and pork prices are up 10 percent or more.
Table 1. Average retail price per pound for April 2014 and the percent change compared to April 2013.
|
Meat product |
Retail price for April 2014, $ per pound |
Change from Year Ago, percent |
|
Ground beef |
3.81 |
8.7 |
|
Sirloin steak |
7.36 |
6.8 |
|
Retail USDA Choice beef, all cuts |
5.87 |
11.1 |
|
Bacon |
5.69 |
14.1 |
|
Center cut pork chops |
4.20 |
12.9 |
|
Hams |
4.13 |
8.0 |
|
Retail pork, all cuts |
3.95 |
11.1 |
|
Chicken, fresh whole |
1.53 |
3.9 |
|
Chicken, boneless breast |
3.39 |
3.5 |
|
Turkey, frozen whole |
1.61 |
-2.5 |
|
Monthly average price values reported by the USDA Economic Research Service. |
||
Supply is driven by number of animals and weight of those animals at the time of harvest. While increased carcass weights have offset some expected decrease in production, beef production is down almost 6 percent compared to a year ago. Most of the increases in beef prices are tied to the lowest supply of cattle since 1952. The tight supply has been anticipated for several years as drought hit areas of the country that typically raise lots of cattle and farmers and ranchers were forced to sell animals.
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