Beef Demand Holds Strong Despite Increased Costs to Consumers

Domestic beef demand remains steady ahead of the holiday season. October’s all-fresh retail beef prices were down slightly at $7.25 per pound, compared to $7.32 in September and down 4% from the record high of $7.55 per pound seen one year ago. Total U.S. commercial beef production is projected to hit 28.3 billion pounds this year – a new record.

Wholesale prices have increased recently for chuck rolls, mock tender, chuck flap and eye of round. Choice boxed beef prices reached a low for the year in October, contrasted with increases in almost every other beef product. Ribeye prices are up nearly 23% from the summer low.

Read more on beef prices here.