The upward momentum in retail beef prices doesn’t appear to have run out of rocket fuel, according to the Daily Livestock Report (DLR). In fact, retail beef prices set yet another record in January. That makes 11 record-highs in the past 12 months for Choice beef and 20 record-highs in the past 21 months for the All-Fresh beef price series that includes Select and store-grade beef items.
The Choice price of $6.33 per retail pound was 0.4% higher than in December, and 18.5% higher than one year ago. This makes 10 straight months of double-digit year-on-year increases for Choice beef. The last time that a monthly retail Choice beef price was lower than one year ago was February 2010 — nearly five years ago! The All-Fresh price was $6.00 per pound, 0.3% higher than last month and 18.9% higher than last year. It, too, has not been lower than one year earlier since February 2010, DLR reports.
Meanwhile, retail pork prices declined slightly in January and poultry prices trod steadily along. The average retail price of a pound of pork was $3.99, down 0.1% from the previous month but still 6.1% higher than one year ago. The retail pork price has been higher, year-on-year, in every month since March 2013.
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