In ,
Mr. Wizard > typed:
> Just in case you haven't noticed that beef
> prices are rising, the wholesale prices quoted
> to me Thursday for my November deliveries
> are 30%-60% higher than the previous
> record highs this summer. After the first of
> the year they expect the prices to rise again.
> Hamburger will probably go to $4-$5 a pound.
> If anyone in your area is selling cheap roasts
> steaks or briskets go stock up on them now
> and fill your freezer.
>
> MW
>
>

Important Consumer Information

Why are the beef prices so high right now?

Strong sales at supermarkets and restaurants this summer are a major reason that
prices are so high. As the economy recovers, consumers are dining out more.
Also, they are willing to treat themselves to more expensive menu items, such as
steaks, when they eat out or eat at home.
While strong consumer demand has helped push up beef prices, other factors have
also contributed.

In May, the United States banned imports of Canadian beef and cattle because of
a case of mad cow disease there. That ban caused a marginal reduction in the
beef supply here.

Top beef buyers Japan and South Korea, also banned Canadian beef and bought more
U.S. beef.

As a result, U.S. beef supplies became tight and prices went up. Wholesale beef
prices are again approaching record levels, after setting a record earlier this
summer.

Prices should be declining shortly, but high prices will prevail through the
holiday season and decline again early in 2004.