The end of record high beef prices may be in sight in coming months, though Southern Ag Today analysts warn prices are unlikely to fall below last year’s levels.
Both wholesale and retail beef prices rose this summer as demand for beef for summer grilling occurred at a time of lower-than-normal slaughter and beef production.
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Wholesale beef prices have already started to drop, with the choice boxed beef cutout declining each week since its peak of $394 per hundredweight a month ago. However, it will take time for this to show up in the grocery store for consumers. Combined with decreased seasonal demand, lower wholesale prices are expected to lead to lower retail prices in the fall.
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