Beef consumers usually see a dip in hamburger, tip roast and steak prices after Major Grilling Holidays - but not this year!
Texas A&M Professor and Beef Expert Dr. David Anderson says the demand is too high, and the supply is more costly to produce. One of the factors is restaurants - from burger joints to swanky eateries. "Restaurants are re-opening to full capacity which means more meat sales - so they are holding up whole sale prices. Also --- we haven't seen a back-off in grocery store sales since the end of the pandemic period."
Greater costs for raising the cattle and higher prices to get the red meat to your plate can only mean one thing - beef prices are on the rise. Dr. Anderson says it seems we just can't get enough!
He says the higher demand is only from hungry Americans. "We're exporting more to countries including Japan, China, South Korea, Canada and Mexico." Anderson says feed prices are up and every factor of the supply chain from the cattle ranch to your taste buds is less available year over year, so prices are likely to remain higher than normal.
Simple economics:
Higher Demand + More Expensive production and transportation = WE'RE NOT GOING TO SEE A DROP IN PRICES ANY TIME SOON!
Photo:GettyImages
Beef - it's what's pricier!Photo: Moment RF