May 24, 2004

US Beef Prices Rising

As the summer grilling season heats up in the US, beef prices are also rising.

Boneless sirloin steak increased more than $2.00 a pound from last year. Ground chuck costs 28% more this year than last.

Both prices and demand are up. Demand, as more and more consumers try low carbohydrate diets. Prices, according to the National Cattlemen's Beef Association, because of drought in the West where less grass is blamed for thinner herds and thinner cows.

Because of super high beef prices, many meat-eaters are switching to pork or poultry, driving those prices higher now, too, though not as extreme.

However, there is one cut of beef that is reportedly cheaper.

The Cattlemen's Association says boneless chuck roast dropped 17-cents a pound from last year.