Denver - Consumers may be cooking more beef for Easter dinner and other get-togethers this spring as average retail beef prices remain at bargain levels. February retail beef prices were lower than those a year ago, while average featured beef prices remained steady, 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 $2.51 per pound in February, compared to $2.53 in January, and $2.55 a year earlier. The USDA All Choice Retail Beef Price was $2.72 per pound in February, compared to $2.75 in January, 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 Meat Featuring Analysis Program noted the average featured retail beef price in February was $2.50 per pound, compared to $2.47 in January, and $2.49 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.)
Average USDA retail and featured prices, respectively, of representative cuts in January were: Ground Chuck, $1.80/$1.65; Chuck Roast (Select or ungraded), $2.09/$2.39; T-bone Steak (Choice) $6.08/$4.54; Round Steak (Select or ungraded) $2.85/$2.69; and Sirloin Steak (Select or ungraded) $3.47/$3.60.
The analysis also includes featured price data for five regions. Western consumers reaped the best beef deals as average featured retail beef prices were at $2.13 per pound. In comparison, the Northeast averaged the highest average retail beef price at $2.79 per pound.
This monthly analysis of average retail beef prices is funded by the national beef checkoff, which is administered by the Cattlemen's Beef Board. This 111-member board is appointed by the Secretary of Agriculture to oversee the collection of the $1-per-head checkoff, to certify state beef councils, to implement the provisions of the Federal order establishing the checkoff and to evaluate the effectiveness of checkoff programs. It is produced in cooperation with NCBA.
Initiated in 1898, NCBA is the marketing organization and trade association for America's one million cattle farmers and ranchers. With offices in Denver, Chicago and Washington, D.C., NCBA is a consumer- focused, producer-directed organization representing the largest segment of the nation's food and fiber industry.
Meat Industry Insights News Service
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Northport, NY 11768
Phone: 631-757-4010
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