Increase in beef production leads to lower retail prices
As consumers shop at the meat case this holiday season and into the new year, they’ll see lower retail prices on beef, including popular holiday cuts like the tenderloin and rib roast.
November 2016 was the largest beef production month since 2010, prompting the U.S. Department of Agriculture to raise its beef production forecast for 2016 in its World Agricultural Supply and Demand Estimates (WASDE), released Dec. 9. As a result, industry experts at CattleFax, a beef industry analyst firm, reported last week beef prices are down more than 10 percent from the highs of late 2014.
Beef production is currently on an upward trend,...
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