The following article is from the NAFB News Service:
During the first quarter of the year, the American Farm Bureau Federation deputy chief economist John Anderson says retail prices for beef and pork cuts have steadily pushed into new record territory.
For pork, Anderson says the average retail price per pound in March of $3.83 was higher than the prior four months. It took over the record level set last fall.
As for beef, fresh beef products were $5.40 per pound. That's a 23{0a3336b3da8cf935de4f3eb78fe29508c4b8b5ebd27d01af2d815614325d533e} increase compared to the 2010-2012 average.
The key factor contributing to higher retail meat prices, according to Anderson, is that farmers and ranchers are raising smaller numbers of hogs and cattle. This is a trend that is likely to continue through the summer and into next year for beef. Although consumers will pay a little more for meat this summer Anderson says the good news is that meat supplies will continue to be plentiful.
Source: NAFB News Service
Posted by Haylie Shipp
