Retail prices could give pork competitive advantage
A livestock market analyst says retail prices for beef could put it at a disadvantage for consumers at the grocery store.
University of Missouri’s Scott Brown says a pound of beef is significantly higher in price compared to a pound of pork and chicken. “It tells me it’s hard to get a lot more strength in those beef prices,” he says. “Because we start to see that substitution from beef to pork or chicken.”
While higher beef prices do indicate the consumers’ willingness to purchase beef products, it also makes it less competitive with other meats.
Brown says that could mean good news for the consumer demand for pork. “I think more featuring of pork will come as we continue to see pork be the better deal relative to beef than we’ve seen for a while,” he says.
Choice retail beef prices for May were up 20 cents over the previous month while pork and chicken were down a couple of cents compared to April.
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