990545 Memorial Day Largest Beef Day of the Year

Denver - Americans are expected to consume 55.8 million pounds of beef this Memorial Day making this holiday the largest beef consumption day of the year. This exceeds the average daily consumption of 44.6 million pounds by 25% the National Cattlemen's Beef Association said.

Memorial Day is the traditional kick off of the summer grilling season and consumers will be paying less for their favorite beef cuts than a year ago. Prices are expected to remain steady throughout the summer.

The average featured price for beef in March (the latest figures available) was $2.43 per pound, compared with $2.48 one year ago according to the National Cattlemen's Beef Association/Cattle-Fax Meat Featuring Analysis Program. The program surveys more than 150 retail stores in major cities across the United States. Average USDA prices and retail featured prices, respectively, of representative cuts in March were: Ground Beef $1.40/$1.75; Ground Chuck $1.83/$1.55; Sirloin Steak (choice boneless) $4.11/$4.73; T-bone Steak (Choice bone-in) $6.01/$5.22. A large share of beef sold at retail moves on special.

In-home consumption of premium steaks was up 6% in 1998 from 1997. Those cuts include: sirloin, tenderloin, Porterhouse/T-bone and ribeye. The most popular cuts purchased at retail include (in order): sirloin, round, chuck, Porterhouse/T-bone, rib, cubed, flank and tenderloin.

Other high beef consumption days are July 4th and Labor Day with projected consumption on both days at 53.6 million pounds, a 20% increase on the average daily consumption.

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.

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