Beef prices decreasing

4 years 4 days 2 hours ago Tuesday, May 24 2016 May 24, 2016 Tuesday, May 24, 2016 3:40:00 PM CDT May 24, 2016 in News
By: Hli Yang, KOMU 8 Reporter
loading

COLUMBIA – Beef prices are decreasing. This comes just in time for Memorial Day weekend.

According to the Bureau of Labor Statistics, uncooked ground beef has been declining. The average price of uncooked ground beef peaked in February 2015 at $4.71 a pound. It decreased to $4.49 at the end of 2015 and has decreased even more to $4.33 in April 2016.

Missouri Beef Council Business Director and CFO Davin Althoff said the price changes are due to farmers adding more cattle to their herd.

“This year we’re seeing the herd expansion hit the beef supply chain, putting pressure on beef prices,” Althoff said. “We’ll see prices decline in groceries, which is a good opportunity for consumers."

Jones Angus Farm owner Jeff Jones said consumers are seeing these prices now, but the price changes didn’t happen overnight.

“We’re talking of a period of years,” Jones said. “Any time that the markets are high, then people are going to try to react to that and they’re going to expand their herds.”

“We’re in a period of herd expansion in Missouri and the United States,” Althoff said. “Missouri is in full phase right now. We started the expansion in 2015. Now, we’re seeing tremendous growth herd in 2016.”

According to the USDA, beef price decrease has nothing to do with demand, which remains as high as ever in the U.S., but instead with an increase in the supply of cattle.

“The consumer should be seeing a lot cheaper meat instead of just a little cheaper meat,” Jones said.

Memorial Day weekend is the number one barbecue event.

More News

Grid
List
COLUMBIA — As state and commercial testing is more available for the Missourians, the number of confirmed cases is rising.... More >>
2 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 3:00:00 PM CDT May 28, 2020 in News
COLUMBIA - The City Manager of Columbia announced plans to further cut city budgets due to the effects of COVID-19.... More >>
3 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 2:42:00 PM CDT May 28, 2020 in News
As COVID-19 spreads, KOMU 8 will continue to update you about the impacts on the community. You can find... More >>
3 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 2:40:00 PM CDT May 28, 2020 in News
BOONE COUNTY - While other sports adjust the game plan to respect social distancing, some are just playing things business... More >>
3 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 2:16:00 PM CDT May 28, 2020 in News
KANSAS CITY, Mo. (AP) — The University of Missouri-Kansas City says it will begin bringing back faculty, staff and students... More >>
3 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 2:14:00 PM CDT May 28, 2020 in News
COLUMBIA — During the State of the City address, John Glascock said the city is leaving it up to the... More >>
3 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 1:51:00 PM CDT May 28, 2020 in News
JEFFERSON CITY - Governor Mike Parson will deliver his daily COVID-19 briefing live from the State Capitol in Jefferson City... More >>
5 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 12:46:00 PM CDT May 28, 2020 in News
Editor's note: Dr. Edith Bracho-Sanchez is a primary care pediatrician, director of pediatric telemedicine and assistant professor of pediatrics at... More >>
5 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 12:26:23 PM CDT May 28, 2020 in A Brighter Tomorrow
(CNN) - President Donald Trump is set to announce an executive order against social media companies on Thursday, White House... More >>
10 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 7:39:26 AM CDT May 28, 2020 in News
(CNN) - Hundreds remained on the streets of Minneapolis late Wednesday night protesting the death of George Floyd, a 46-year-old... More >>
11 hours ago Thursday, May 28 2020 May 28, 2020 Thursday, May 28, 2020 6:09:08 AM CDT May 28, 2020 in News
COLUMBIA — An employee at The Bluffs in Columbia tested positive for COVID 19, executive director Donna Bowers announced in... More >>
21 hours ago Wednesday, May 27 2020 May 27, 2020 Wednesday, May 27, 2020 8:33:00 PM CDT May 27, 2020 in News
US— The fraught, freighted number of this particular American moment is a round one brimming with zeroes: 100,000. A hundred... More >>
21 hours ago Wednesday, May 27 2020 May 27, 2020 Wednesday, May 27, 2020 8:31:00 PM CDT May 27, 2020 in News
COLUMBIA - The city of Columbia will not be collecting residential recycling curbside the week of May 25 after Columbia/Boone... More >>
23 hours ago Wednesday, May 27 2020 May 27, 2020 Wednesday, May 27, 2020 6:33:00 PM CDT May 27, 2020 in News
FULTON - Three people were arrested on drug charges after a narcotics search occurred at 1504 Monroe Street in Fulton.... More >>
23 hours ago Wednesday, May 27 2020 May 27, 2020 Wednesday, May 27, 2020 6:31:16 PM CDT May 27, 2020 in News
JEFFERSON CITY - At his daily COVID-19 press briefing, Governor Mike Parson announced that Missouri has so far been exceeding... More >>
1 day ago Wednesday, May 27 2020 May 27, 2020 Wednesday, May 27, 2020 4:06:00 PM CDT May 27, 2020 in News
BOONVILLE - The City of Boonville relies heavily on their summer tourism season with attractions like the Katy Trail, Isle... More >>
1 day ago Wednesday, May 27 2020 May 27, 2020 Wednesday, May 27, 2020 2:57:00 PM CDT May 27, 2020 in News
COLUMBIA —Americans are finally sending their own up to space again. When SpaceX's postponed rocket launch finally lifts off on... More >>
1 day ago Wednesday, May 27 2020 May 27, 2020 Wednesday, May 27, 2020 2:45:00 PM CDT May 27, 2020 in News
COLUMBIA - Two 16-year-olds are being held on arson charges in connection to a May 11 fire at the Flanders... More >>
1 day ago Wednesday, May 27 2020 May 27, 2020 Wednesday, May 27, 2020 2:20:00 PM CDT May 27, 2020 in News
Columbia, MO
Broken Clouds 69°
6pm 66°
7pm 66°
8pm 65°
9pm 64°