US Beef Sales Volumes Fall 0.3% as Shoppers Switch to Cheaper Chicken
Updated
Updated · Yahoo Finance · Aug 16
US Beef Sales Volumes Fall 0.3% as Shoppers Switch to Cheaper Chicken
3 articles · Updated · Yahoo Finance · Aug 16
Summary
Beef sales volumes in the 13 weeks through mid-July slipped 0.3% from a year earlier, a break from roughly 5% growth in the same period of the prior two years.
Record beef prices, driven by a shrinking US cattle herd, are finally pushing consumers to cut back or trade down after nearly two years of absorbing increases.
Ground beef at about $8 a pound in some Manhattan stores versus $6 in Brooklyn illustrates the squeeze, with shoppers cooking at home yet still abandoning beef for lower-cost proteins.
Chicken consumption is still rising because ample supplies have kept prices under pressure, underscoring a possible ceiling on what Americans will pay for beef.
The pullback matters beyond grocers because beef has been a major driver of food inflation and a concern for the Trump administration before the midterm elections.