Beef Prices Soar to Record Highs in June

[bczoom]

I hope your freezers are already stocked deep.
Thankfully, I ordered a side of beef last Spring. Locked in at $5.10/pound, cut/wrapped/frozen.

Looks like there's no stop to the increased pricing in the future.

Beef Prices Soar to Record Highs in June

The average price of a pound of 100% ground beef rose to $6.12 last month, up from $5.98 in May and $5.47 in June 2024, according to government data released last week. “Experts have said this trend shows no signs of slowing, meaning there may be upward pressure on prices through 2026 and...

www.agriculture.com

From the article:

 

[FrancSevin]

The price increases are obvious.
What are the known causes?
Will this go on fora while?
Or Forever?

 

[bczoom]

What are the known causes?
Will this go on fora while?
Or Forever?

It's not a long article but all the answers to your questions are in there.

 

[waybomb]

Manipulation by the Tysons, Smithfields, etc.
That's what it is. Has nothing to do with the other trains they listed. They have been reducing the herd for years now.

 

[FrancSevin]

Manipulation by the Tysons, Smithfields, etc.
That's what it is. Has nothing to do with the other trains they listed. They have been reducing the herd for years now.

Not really. There are answers but, the real question remains. Beef has become more and more expensive because there is less and less Domestic production. This when obviously there is more demand an opportunity which isn't being met by producers. I don't think it fair to blanketly blame the processors.

Why?
Are cattle herds being abandoned in the field?
No. But ranchers are put under greater pressures, prices below costs and regulations which inhibit production. When I bought Hippie Ridge 20 years ago, most of my neighbors had small herds, 15 to 30 head. Virtually none raise market cattle today.

 

[waybomb]

Who controls the ranchers? The Tysons of the world. Don't make calves, cut calve production. Been going on for years.

 

[FrancSevin]

Who controls the ranchers? The Tysons of the world. Don't make calves, cut calve production. Been going on for years.

Yep. No argument there.
But the published narrative says different. That is my issue.
You and I can see it because we live where it happens. City dwellers, mostly Liberals who dramatically effect elections, have no idea.

 

[waybomb]

I was in the business for about 40 years.

 

[tommu56]

Buy local screw the big companies.
I buy from a private butcher and he gets his meat from the Amish are their fair with their prices in my opinion.
he never ran out of meat during covid like the stores.

 

[FrancSevin]

Why haven't Pork prices followed beef increases?

 

[bczoom]

Why haven't Pork prices followed beef increases?

Because they don't taste as good, except for the bacon of course.

 

[tiredretired]

Read about this coming for some time now.

We have two large freezers. Been stocking up on lots of ground beef that is marked down for last day of sale for some time now. Vacuum sealed immediately and frozen. Most of it 93% and 96% I got for around $5.50/lb. Some 80% for burgers at $4.00/ lb. Gotta go early around 6:00AM.

Today I saw the 96% "marked down" to $8.68/lb. Guess I am all done stocking up. Not even sure how much we have but a reasonable guess would be around 75 pounds of ground beef and 25 pounds of rib-eyes.

 

[tiredretired]

Because they don't taste as good, except for the bacon of course.

Gotta smoke pork to make it to my dinner table most generally except for the occasional slow cooked boneless pork loin roast usually in the winter months.

Ribs, brisket and smoked boneless chops keep my pellet smoker busy year round.

 

[Big Dog]

 

[Big Dog]

I have 3 freezers, I never have less than a 1/2 of beef, local farmer. I’ve never paid more than $3/# hanging, after processing with some cubing and slicing in the mix last year, my total amounted to $4.25/#. I tend to get a whole every 3rd year. The rest of the freezer space is scattered with pork, seafood, rice, and Louisiana delicacies.

 

[FrancSevin]

Because they don't taste as good, except for the bacon of course.

The war against beef is led by the environmentalist. They seldom, if ever, complain about Pig Farts.
Despite their concern for the environment, they will not be in favor of limiting BACON!
Yet pigs are the filthiest animals on the farm.
And they will eat just about anything.
Beef is a much healthier food.
Hands down.

 

[bczoom]

I have 3 freezers, I never have less than a 1/2 of beef, local farmer. I’ve never paid more than $3/# hanging, after processing with some cubing and slicing in the mix last year, my total amounted to $4.25/#. I tend to get a whole every 3rd year. The rest of the freezer space is scattered with pork, seafood, rice, and Louisiana delicacies.

$4.25 (hanging weight) if it includes cut and frozen is a great price! My local guy (a good friend) charges me $5.10 and he's just breaking even. This is grain finished, premium beef but 90-cents/pound x 500 pounds is a difference.

 

[Big Dog]

$4.25 (hanging weight) if it includes cut and frozen is a great price! My local guy (a good friend) charges me $5.10 and he's just breaking even. This is grain finished, premium beef but 90-cents/pound x 500 pounds is a difference.

It went to $3 hang about 3 years ago, I’m sure it’s gonna go up this year. The feed premium too and nobody can expect them to absorb that but I’m ok with that, the beef is excellent.