Beef prices begin sudden fall from record highs

[oneh2obabe]

The boom market for beef is fading in Canada after record prices last year, but people will have to wait for costs to tumble in grocery stores.

The cattle industry has experienced a sudden drop in prices, forcing ranchers to adjust their expectations for the year.

"We had an incredible run. We doubled our prices in three years for calves, for example," said Brian Perillat, a senior analyst with CanFax, a cattle market research firm. "In the last few months, we've seen prices drop 15 to 20 per cent from the high."

Even with the market correction, prices are still at historically high levels. Experts say the price spike was too extreme a reaction as beef supplies tightened.

"It's a commodity market. We see big booms and busts with oil and we went through one with cattle," said Perillat.

Steaks, roasts and other cuts of beef are still fetching a premium price in the meat department of grocery stores, although that should change. Usually it takes three to six months before changes to cattle prices affect retail prices.

http://www.cbc.ca/news/canada/calgary/b ... -1.3454160

[Lady tehMa]

Just in time for BBQ season!! <3

[Dizzy1]

We pay $3.50/lb, slaughtered, processed and packaged - whatever cuts we want.

[Lady tehMa]

We pay $3.50/lb, slaughtered, processed and packaged - whatever cuts we want.

Would be nice - but I have neither the freezer space, space for a larger freezer, nor money for the initial outlay of the meat. *sighs*

My folks always bought a side of beef when I was growing up - I miss it.

[Liquidnails]

We pay $3.50/lb, slaughtered, processed and packaged - whatever cuts we want.

That's a good price.

[Queen K]

Beef in moderation anyways. Prices go up and down? So what, I call it "dollar cost averaging". Now white mushroom prices going to $3.99lb! GRRRRRR

Don't we credit the Chinese diet with keeping them healthy until they got hit with the Western Diet craze? And that craze includes lots of beef. So their heart attack rate went up, amongst other things.