Denver, CO - The National Cattlemen's Beef Association says retail beef prices remained the same in October compared to the month before.
The USDA all-fresh retail beef price was $2.53 per pound in October, the same as September and just 3 cents higher than 1996 prices. The association analysis includes data on 15 beef cuts in all grades.
Analysts say the best buys, according to newspaper ads featuring beef at special low prices, were for ground chuck and rib roast. Average retail/featured prices in October:
> ground chuck, $1.85/$1.58;
> rib roast (choice), $5.23/$3.21;
> T-bone steak (choice), $5.92/$4.50;
> round steak (select or ungraded) $3.07/$2.99; and
> sirloin steak (select or ungraded) $3.66/$3.79.
The NCBA/Cattle-Fax Meat Featuring Analysis Program noted the average featured retail beef price in October was $2.57 per pound, compared to $2.53 in September and $2.55 in 1996.
The association analysis also found the lowest regional average price for featured beef in October was $2.21 in the western region, compared to $2.79 in the Northeast.
Meat Industry Insights News Service
P.O. Box 553
Northport, NY 11768
Phone: 631-757-4010
Fax: 631-757-4060
E-mail: sflanagan@sprintmail.com
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