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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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