Retail beef prices stay steady in face of wholesale price volatility
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In spite of a good spread between retail beef prices and the Choice cutout, generally uptrending yet volatile wholesale beef prices have kept retailers guessing, according to the Daily Livestock Report. The upshot? The thing that stands out the most is how stable those prices have been in the last 24 months.
The average price of beef at retail in February was estimated at $5.90 per pound, 0.7% higher than the previous month and 1.2% higher than a year ago. Since January 2017, the retail price of beef has averaged $5.91 per pound, with the highest registered price during this period being in June 2017 when prices hit $6.21 per pound, 5.1% higher than the two year average.
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