Labor Day cookout beef will cost more this year | TSLN.com

Labor Day cookout beef will cost more this year

Consumers can expect to pay more to grill steaks and hamburgers over the Labor Day weekend, industry analysts noted. Beef prices at the supermarket are 6-7 percent higher than last year, said Rich Nelson, director of research at commodities research firm Allendale, Inc. The retail price for choice beef averaged $4.44 per pound in July, compared to $4.18 a year ago, according to USDA.

“Meat prices are trending up, probably to the highest they’ve been in a few years,” said Bob Goldin, executive vice president at the food industry consulting firm, Technomic. Nelson is cautiously optimistic consumers will continue to visit the beef counter. Demand is rising more than expected, and the economic news could give consumers the confidence to buy more meat, he said, adding, “We’re somehow seeing consumers feel a little better.”

Nelson noted that for the beef industry, Labor Day is important. “It’s the last major holiday of the late summer and early fall period. There are a lot of hopes that ride on this holiday.”

Consumers can expect to pay more to grill steaks and hamburgers over the Labor Day weekend, industry analysts noted. Beef prices at the supermarket are 6-7 percent higher than last year, said Rich Nelson, director of research at commodities research firm Allendale, Inc. The retail price for choice beef averaged $4.44 per pound in July, compared to $4.18 a year ago, according to USDA.

“Meat prices are trending up, probably to the highest they’ve been in a few years,” said Bob Goldin, executive vice president at the food industry consulting firm, Technomic. Nelson is cautiously optimistic consumers will continue to visit the beef counter. Demand is rising more than expected, and the economic news could give consumers the confidence to buy more meat, he said, adding, “We’re somehow seeing consumers feel a little better.”

Nelson noted that for the beef industry, Labor Day is important. “It’s the last major holiday of the late summer and early fall period. There are a lot of hopes that ride on this holiday.”

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