LOW PRICES ON BEEF ROASTS, STEW MAKE AFFORDABLE MEALS

DENVER, October 28, 1997 -- Consumers who crave warm, comforting foods during the fall can enjoy beef products, such as chuck roasts and beef for stew, at lower than average retail prices than a month ago, 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 September, compared to $2.52 in August, and $2.50 a year earlier. The USDA All Choice Retail Beef Price was $2.83 per pound in September, compared to $2.81 in August, and $2.81 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 September was $2.53 per pound, compared to $2.52 in August, and $2.49 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.)

   With lower average retail prices for chuck roast and boneless beef for stew, NCBA analysts say consumers can use beef to create warm and satisfying fall meals. The majority of consumers are ready to prepare roasts, according to a 1996 NPD Pantry Audit, since more than 61 percent of U.S. households already have a roasting pan.

   Average USDA and featured prices, respectively, of representative cuts in July were: Ground Chuck, $1.80/$1.57; Rib Roast (Choice), $5.06/$2.57; T-Bone Steak (Choice) $5.93/$4.42; Round Steak (Select or ungraded) $2.95/$3.11; and Sirloin Steak (Select or ungraded) $3.69/$3.93. (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 September was $2.16 in the Central region as well as 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 

                   September August  September  September August September
                     1997     1997     1996       1997     1997    1996
--------------------------------------------------------------------------
                    ($/lb.)  ($/lb.)  ($/lb.)    ($/lb.)  ($/lb.) ($/lb.)
Ground chuck         $1.84    $1.84    $1.80      $1.62    $1.59   $1.54 
Ground beef          $1.42    $1.39    $1.36      $1.80    $1.81   $1.54 
Ground beef, lean
  and extra lean     $2.06    $2.07    $2.05      $1.88    $1.97   $2.14 
Chuck roast, Select
  or ungraded        $2.09    $2.14    $2.15      $1.82    $1.23   $2.39
Chuck roast, U.S.
  Choice, boneless   $2.47    $2.47    $2.42      $1.87    $1.82   $1.82 
Round roast, U.S.
  Choice, boneless   $2.76    $2.78    $2.82      $2.18    $2.08   $2.13 
Round roast, Select
  or ungraded        $2.69    $2.65    $2.70      $2.22    $2.09   $2.28 
Rib roast, U.S.
  Choice, bone-in    $5.31    $5.16    $5.04      $3.24    $2.62   $2.97 
Steak, T-Bone, U.S.
  Choice, bone-in    $6.04    $5.78    $5.80      $4.35    $4.24   $4.69 
Steak, rib-eye, U.S.
  Choice, boneless   $5.99    $5.75    $5.67      $5.71    $5.56   $5.84 
Steak, round, U.S.
  Choice, boneless   $3.08    $3.07    $3.14      $2.13    $2.25   $2.33 
Steak, round, Select
  or ungraded        $2.98    $3.00    $2.94      $2.84    $3.01   $2.55 
Steak, sirloin,
  Select or ungraded $3.58    $3.60    $3.63      $3.88    $4.15   $3.65 
Steak, sirloin, U.S.
  Choice, boneless   $4.30    $4.37    $4.20      $4.53    $4.59   $4.01 
Beef for stew,
  boneless           $2.48    $2.79    $2.41      $2.31    $2.26   $2.20 
     
USDA All Choice
  Retail Beef Price  $2.83    $2.81    $2.81                
USDA All Fresh
  Retail Beef Price  $2.53    $2.52    $2.50                
MFAP Featured
  Retail Beef Price  $2.53    $2.52    $2.49 
     
     
AVERAGE FEATURED RETAIL BEEF PRICES                                         
(By Region)                                                  
                 September  August  September                     
Region             1997      1997     1996                      
                  ($/lb.)   ($/lb.)  ($/lb.)                       
---------------------------------------------
Northeast          $2.81     $2.84    $2.78     
North Central      $2.64     $2.80    $2.37     
Southeast          $2.45     $2.38    $2.28     
Central            $2.33     $2.27    $2.39     
Western            $2.21     $2.17    $2.15  
   U S Average     $2.53     $2.52    $2.49     
     
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)