BEEF REMAINS AFFORDABLE FOR HOLIDAY SEASON

DENVER, December 2, 1997 -- Average retail beef prices remain constant, making beef an affordable choice for consumers during the holidays, according to the National Cattlemen's Beef Association.

In the monthly analysis of national average retail beef prices, NCBA reports the USDA All Fresh Retail Beef Price was $2.53 per pound in October, compared to $2.53 in September, and $2.50 a year earlier. The USDA All Choice Retail Beef Price was $2.79 per pound in October, compared to $2.83 in September, and $2.82 a year earlier. NCBA's monthly analysis includes USDA data on 15 individual beef cuts and includes all grades (Choice, Select and ungraded.)

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 a year earlier. NCBA and Cattle-Fax collect this data from newspaper advertisements featuring beef at special low prices. (An estimated 50% of beef purchased at retail sells on feature.)

Low average retail prices means beef is an ideal choice for family meals during the holidays. Analysts say beef is considered for many end-of-the-year functions, despite all the turkey and ham normally associated with holiday meals.

Average USDA and featured prices, respectively, of representative cuts in October were: 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. (See reverse side of release for detailed data from NCBA analysis.)

The analysis also includes featured price data for five regions. The lowest regional average price for featured beef in October was $2.21 in the Western region compared to $2.79 in the Northeast.

Initiated in 1898, the National Cattlemen's Beef Association is the national marketing organization and trade association for America's one million cattle farmers, ranchers and feeders. With offices in Denver, Chicago and Washington, D.C., NCBA is a consumer-focused, producer-directed association representing the largest segment of the nation's food and fiber industry.

AVERAGE RETAIL BEEF PRICES
(National)
                      Average Retail Price^1     Average Featured Price^2

                          October    Sept. October   Sept. October   Sept.
                            1997     1997   1996     1997    1997    1996
--------------------------------------------------------------------------
                          ($/lb.)  ($/lb.) ($/lb.) ($/lb.) ($/lb.) ($/lb.)
Ground chuck               $1.85    $1.84   $1.84   $1.58   $1.62   $1.52
Ground beef                $1.41    $1.42   $1.37   $1.71   $1.80   $1.47
Ground beef, lean and      $2.06    $2.06   $2.07   $2.02   $1.88   $2.07
  extra lean
Chuck roast, Select or     $2.15    $2.09   $2.18   $1.15   $1.82   $1.43
  ungraded
Chuck roast, U.S. Choice,  $2.42    $2.48   $2.47   $2.00   $1.87   $1.95
  boneless
Round roast, U.S. Choice,  $2.78    $2.76   $2.92   $2.25   $2.17   $2.26
  boneless
Round roast, Select or     $2.69    $2.69   $2.74   $2.31   $2.22   $2.42
  ungraded
Rib roast, U.S. Choice,    $5.23    $5.31   $5.10   $3.21   $3.24   $3.27
  bone-in
Steak, T-Bone, U.S.        $5.92    $6.04   $5.65   $4.50   $4.35   $4.41
  Choice, bone-in
Steak, rib-eye, U.S.       $5.85    $5.99   $5.57   $5.84   $5.71   $6.10
  Choice, boneless
Steak, round, U.S.         $3.08    $3.08   $3.14   $2.32   $2.13   $2.38
  Choice, boneless
Steak, round, Select or    $3.07    $2.98   $3.05   $2.99   $2.84   $2.84
  ungraded
Steak, sirloin, Select or  $3.66    $3.58   $3.65   $3.79   $3.88   $3.27
  ungraded
Steak, sirloin, U.S.       $4.21    $4.30   $4.09   $4.34   $4.47   $4.28
  Choice, boneless
Beef for stew, boneless    $2.47    $2.48   $2.50   $2.28   $2.31   $2.42
                                                                       
USDA All Choice Retail     $2.79    $2.83   $2.82                      
  Beef Price
USDA All Fresh Retail      $2.53    $2.53   $2.50                      
  Beef Price
MFAP Featured Retail Beef                           $2.57   $2.53   $2.55
  Price
                                                                          

AVERAGE FEATURED RETAIL BEEF PRICES
(By Region)
                    October   Sept.  October                        
Region               1997     1997    1996                          
                    ($/lb.)  ($/lb.) ($/lb.)                        
---------------------------------------------
Northeast            $2.79    $2.81   $2.91                         
North Central        $2.56    $2.64   $2.53                         
Southeast            $2.44    $2.45   $2.34                         
Central              $2.29    $2.33   $2.43                         
Western              $2.21    $2.21   $2.16                         
U S Average          $2.57    $2.53   $2.55                         
                                                                          
Sources: ^1 USDA Economic Research Service (based on U.S. Bureau of Labor
         Statistics) and ^2 NCBA/Cattle-Fax Meat Featuring Analysis Program
         (MFAP) -- (Most recent month calculations based on preliminary data)

Northeast:  ME, NH, VT, MA, NY, PA, NJ, CT, RI, MD, DE
North Central:  MN, WI, MI, IL, IN, OH
South East:  VA, WV, KY, TN, NC, SC, GA, AL, MS, AR, LA, FL
Central:  IA, MO, OK, KS, TX, CO, NM, NE, SD, ND, MT, WY
Western:  WA, OR, ID, UT, AZ, CA, NV (Data is not available for Hawaii and
          Alaska)