Texas A&M Sees Beef Near Record Highs as 55% of U.S. Consumers Cut Back
Updated
Updated · meatingplace.com · Jul 22
Texas A&M Sees Beef Near Record Highs as 55% of U.S. Consumers Cut Back
1 articles · Updated · meatingplace.com · Jul 22
Summary
Ground beef is forecast to ease only slightly to $6.62 a pound by October from $6.71 in May, with Texas A&M saying summer beef prices should stay near record highs but be steadier than last year.
Ribeye is projected to slip to $18.33 from $18.81 and brisket to buck the trend, rising to $5.95 from $5.83, as economists see limited relief rather than a broad price drop.
New World screwworm remains the biggest wild card because it halted Mexican cattle imports and is adding management costs in the U.S., raising the risk of higher prices if steady cross-border supply stays constrained.
Blue Yonder found 55% of U.S. consumers are buying less beef or have stopped entirely, while 78% worry the pest will further hit prices or availability and many are shifting to chicken, pork, seafood and other proteins.
Oil prices tied to the U.S.-Iran conflict add another layer of uncertainty by threatening higher fertilizer, feed and transport costs, reinforcing pressure on already resistant shoppers.