Increase in U.S. beef production leads to lower prices in meat case
Beef production is currently on an upward trend, with production projected to rise 6% in 2016 and another 4% in 2017.
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, according to CattleFax, a beef industry analyst firm based in Centennial, Colo.,
In fact, November 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, CattleFax reported today’s beef prices are down more than 10% from the highs of late 2014.