It wasn’t that long ago that red-meat-loving Americans were paying more for beef because of shortages. Now the pendulum is swinging in the other direction, meaning there should be more — and more affordable — burgers and steaks at the supermarket this summer.
Bloomberg reports that an increase in beef output in the U.S. will soon result in lower prices at the grocery store.
In fact, the price of ground beef has been on a steady decline in the last year, dropping about 9%, while steaks have dropped in price by 6.6% from the same time last year, according to a report from analysts at CoBank, noting that the decreases put beef more in line with often cheaper meats, such as pork and chicken.
