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1996 News Archive

 

AVERAGE RETAIL BEEF PRICES REMAIN STEADY

DENVER,  August 25, 1997 -- Average retail beef prices
remain constant, making beef an affordable choice for consumers
during the Labor Day weekend, 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
$2.54 per pound in July, compared to $2.53 in June, and $2.48 a
year earlier.  The USDA All Choice Retail Beef Price was $2.79
per pound in July, compared to $2.78 in June, and $2.78 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 Beef Featuring Analysis Program noted
the average featured retail beef price in July was $2.42 per
pound, compared to $2.49 in June, and $2.47 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 retail beef prices can translate into big savings
for consumers during the Labor Day weekend--one of the three
largest beef consumption days of the year.   Analysts predict the
majority of Americans will choose beef for grilling on Labor Day,
since in a recent NCBA survey more than 57 percent of consumers
said beef is the meat they most often cook on the grill.

     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
July 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.

                           -- NCBA --

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

                         July     June     July     July    June    July
                      1997     1997     1996     1997    1997    1996
                     ($/lb.)   ($/lb.)  ($/lb.) ($/lb.) ($/lb.) ($/lb.)
-----------------------------------------------------------------------
Ground chuck          $1.80    $1.85    $1.80    $1.57   $1.58   $1.42
Ground beef           $1.40    $1.41    $1.35    $1.37   $1.61   $1.32
Ground beef, lean     $2.07    $2.06    $2.03    $2.08   $2.07   $1.98
and extra lean
Chuck roast, Select   $2.15    $2.05    $2.00    $1.79   $1.38   $1.49
or ungraded
Chuck roast, U.S.     $2.42    $2.39    $2.32    $1.76   $1.69   $1.60
Choice, boneless
Round roast, U.S.     $2.76    $2.80    $2.68    $2.08   $1.98   $1.93
Choice, boneless
Round roast, Select   $2.61    $2.69    $2.57    $2.06   $2.23   $2.00
or ungraded
Rib roast, U.S.       $5.06    $5.04    $4.82    $2.57   $2.89   $2.95
Choice, bone-in
Steak, T-Bone, U.S.   $5.93    $5.86    $5.96    $4.42   $4.76   $4.98
Choice, bone-in
Steak, rib-eye, U.S.  $5.61    $5.78    $5.64    $5.23   $5.48   $5.39
Choice, boneless
Steak, round, U.S.    $3.05    $3.03    $3.08    $2.13   $2.34   $2.06
Choice, boneless
Steak, round,         $2.95    $3.00    $2.87    $3.11   $2.87   $2.95
Select or ungraded
Steak, sirloin,       $3.69    $3.76    $3.64    $3.93   $3.95   $3.82
Select or ungraded
Steak, sirloin, U.S.  $4.24    $4.20    $4.20    $4.29   $4.65   $3.61
Choice, boneless
Beef for stew,        $2.48    $2.52    $2.47    $2.15   $2.26   $2.01
boneless

USDA All Choice       $2.79    $2.78    $2.78
Retail Beef Price
USDA All Fresh        $2.54    $2.53    $2.48
Retail Beef Price
BFAP Featured                                    $2.42   $2.49   $2.47
Retail Beef Price


AVERAGE FEATURED RETAIL BEEF PRICES
(By Region)
                                    July     June     July
             Region                 1997     1997     1996
                                  ($/lb.)   ($/lb.)  ($/lb.)
------------------------------------------------------------
            Northeast              $2.79    $2.75    $2.70
          North Central            $2.56    $2.62    $2.34
            Southeast              $2.45    $2.46    $2.24
             Central               $2.16    $2.26    $2.13
             Western               $2.16    $2.32    $1.97
           U S Average             $2.42    $2.49    $2.47

Sources:  ^1 -- USDA Economic Research Service (based on U.S. Bureau of
Labor Statistics)  and ^2 -- NCBA/Cattle-Fax Beef Featuring Analysis
Program (BFAP) -- (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)



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