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Retail Meat Prices Continue to Increase



(NAFB)--During the first quarter of the year - the American Farm Bureau Federation deputy chief economist John Anderson says retail prices for beef and pork cuts have steadily pushed into new record territory. For pork - Anderson says the average retail price per pound in March of three-dollars and 83-cents was higher than the prior four months - taking over the record level set last fall. As for beef - fresh beef products were 5-40 per pound - a 23-percent increase compared to the 2010-2012 average. The key factor contributing to higher retail meat prices - according to Anderson - is that farmers and ranchers are raising smaller numbers of hogs and cattle - a trend that is likely to continue through the summer - and into next year for beef. Although consumers will pay a little more for meat this summer - Anderson says the good news is that meat supplies will continue to be plentiful.

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