Meat prices soar for Memorial Day grilling
Teams prepare their chicken entry during the 2011 Battle of the BBQ Brethren N.Y. State BBQ competition in Manorville. Credit: Chris Ware, 2011
Outdoor grilling over Memorial Day weekend increased meat counter sales and helped prices skyrocket as the pre-summer barbecue season kicked off.
The money people saved on gasoline when prices dropped in recent weeks was likely going toward buying steaks, ribs and chicken for the barbecue, one economist said.
When Memorial Day weekend kicked off Friday, a pound of lean ground beef was selling for $4.49 at a Denver supermarket, according to U.S. Department of Agriculture data.
Beef rib-eye steak was priced at $9.99 per pound. Boneless, skinless chicken breasts were going for $3.49 per pound and boneless pork chops cost $4.49 per pound.
Consumers weren't getting any bargains. Steaks cost about 6 percent more this spring than a year ago. Pork prices were up just 3 percent, while chicken prices jumped 5.3 percent.
The higher prices are expected to last. Normally summer prices tend to increase 1 percent to 3 percent from the spring as more consumers take advantage of warm weather to grill meat, said Ricky Volpe, an economist with the USDA's Economic Research Service.
However, meat prices are expected to increase 3.5 percent to 4.5 percent in 2012, Volpe said. The meat price increase is greater than the 2.5 percent to 3.5 percent rise in overall food costs the government is forecasting.
-- Scripps Howard News Service
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