STEAK LOVERS DELIGHT IN LOWER RETAIL PRICES

DENVER, September 24, 1997 _ Average retail prices decreased for two popular steaks from July to August, making it more affordable for consumers to savor their favorite beef dish at home. Overall, average retail beef prices remained nearly identical to prices a year 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 $2.52 per pound in August, compared to $2.50 in July, and $2.51 a year earlier. The USDA All Choice Retail Beef Price was $2.81 per pound in August, compared to $2.79 in July, 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 August was $2.50 per pound, compared to $2.44 in July, and $2.50 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.)

   The low average retail prices, and lower prices on T-Bone Steak, U.S. Choice, bone-in, and Sirloin Steak, Select or ungraded, provided steak lovers with a greater opportunity to enjoy the single most popular beef dish in American homes. Steak accounts for more than 17 percent of all in-home fresh-beef servings, according to NPD Group research on eating trends.

   Average USDA and featured prices, respectively, of representative cuts in August were: Ground Chuck, $1.84/$1.59; Rib Roast (Choice), $5.16/$2.66; T-Bone Steak (Choice) $5.78/$4.26; Round Steak (Select or ungraded) $3.00/$3.00; and Sirloin Steak (Select or ungraded) $3.60/$4.17. (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 August was $2.17 in the Western region compared to $2.84 in the Northeast region.

   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 

                         August   July   August   August   July    August 
                          1997     1997   1996      1997    1997    1996
                         ($/lb.) ($/lb.) ($/lb.)   ($/lb.) ($/lb.) ($/lb.)
--------------------------------------------------------------------------
Ground chuck              $1.84   $1.80   $1.80     $1.59   $1.56   $1.43 
Ground beef               $1.39   $1.40   $1.35     $1.81   $1.38   $1.33 
Ground beef, 
  lean and extra lean     $2.07   $2.07   $2.03     $1.95   $2.11   $1.96 
Chuck roast,
  Select or ungraded      $2.14   $2.15   $2.00     $1.23   $1.79   $0.98 
Chuck roast,
  U.S. Choice, boneless   $2.47   $2.43   $2.32     $1.82   $1.76   $1.75 
Round roast,
  U.S. Choice, boneless   $2.78   $2.76   $2.68     $2.05   $2.08   $1.98 
Round roast,
  Select or ungraded      $2.65   $2.61   $2.57     $2.09   $2.07   $2.15 
Rib roast,
  U.S. Choice, bone-in    $5.16   $5.07   $4.82     $2.66   $2.57   $2.82 
Steak, T-bone,
  U.S. Choice, bone-in    $5.78   $5.93   $5.96     $4.26   $4.43   $4.98 
Steak, rib-eye,
  U.S. Choice, boneless   $5.75   $5.62   $5.64     $5.42   $5.24   $5.66 
Steak, round,
  U.S. Choice, boneless   $3.07   $3.06   $3.08     $2.26   $2.13   $2.17 
Steak, round,
  Select or ungraded      $3.00   $2.95   $2.87     $3.00   $3.11   $2.79 
Steak, sirloin,
  Select or ungraded      $3.60   $3.69   $3.64     $4.17   $4.00   $3.79 
Steak, sirloin,
  U.S. Choice, boneless   $4.37   $4.24   $4.20     $4.64   $4.23   $4.03 
Beef for stew, boneless   $2.79   $2.48   $2.47     $2.27   $2.14   $2.12 
   
USDA All Choice
  Retail Beef Price       $2.81   $2.79   $2.81                  
USDA All Fresh 
  Retail Beef Price       $2.52   $2.50   $2.51                  
MFAP Featured
  Retail Beef Price       $2.50   $2.44   $2.50 
     
     
AVERAGE FEATURED RETAIL BEEF PRICES                              
(By Region)                             
                          August    July     August              
Region                     1997     1997      1996           
                          ($/lb.)  ($/lb.)   ($/lb.)             
Northeast                  $2.84    $2.79     $2.84               
North Central              $2.80    $2.56     $2.32               
Southeast                  $2.38    $2.45     $2.51               
Central                    $2.27    $2.16     $2.32               
Western                    $2.17    $2.16     $2.12               
U S Average                $2.50    $2.44     $2.50               
   
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)