After a brief and very much welcomed respite, meat prices are back on the rise and in a big way. As product demand is peaking with Labor Day weekend looming, coupled with extended labor shortages, we are seeing new record high prices on several of the most popular items bought in the foodservice and retail sectors.
What lies ahead with back to school and seasonal change ahead is anyone’s guess.
GROUND BEEF 81/19:
81/19 Ground Beef prices were up last week. Prices have continued to increase midway through the current week.
GROUND BEEF 73/27:
73/27 Ground Beef has trended similar to 81/19 Ground Beef. Prices have been trending slightly upwards.
Strip Loin demand has picked up. Prices were up last week, and are up significantly this week after three days of trading, according to the USDA.
Choice Top Butts traded slightly down last week, while the Select product increased in price. All Top Butts have reportedly traded at higher prices this week through three days of trading.
The Tenderloin market took an increase across all product grades last week. Prices are up even further this week, and similar to Strips, analysts are projecting increased demand as we head into Labor Day.
Ribeyes have been trading at significantly higher prices week-over-week, according to the USDA. Ribeyes are another item that historically has a seasonal peak in demand, and price, for Labor Day.