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A Gluttonous Feast of Flesh and Blood: Americans Are Grilling More Steaks for Labor Day

Beef consumption will rise 1.4 percent this year to 57.7 pounds on a per-capita basis, the U.S. Department of Agriculture said this month. Demand will grow to 58.7 pounds next year, the agency estimates.

LYDIA MULVANY: ‘When Americans feel like they’ve got more money, they like to treat themselves. That means there could be plenty of steaks on the grill this year for Labor Day. A buzzing economy and low U.S. unemployment is a boon for beef, typically considered a premium meat. Gains for the cattle herd means retail prices have fallen. Combine that with grocer discounts for the holiday, and steaks and burgers could be the cheapest they’ve been in years, attracting demand…

There are record supplies of chicken and pork in the U.S., and even with prices at multiyear lows, it’s more than most people care to eat. Companies including Tyson Foods Inc. and Sanderson Farms Inc. have recently said that bargains on beef were hurting poultry… Beef consumption will rise 1.4 percent this year to 57.7 pounds on a per-capita basis, the U.S. Department of Agriculture said this month. Demand will grow to 58.7 pounds next year, the agency estimates…

The gains for demand mean retailers are making good margins, and that’s allowing them to slash prices for fancier cuts of meat, according to Gary Morrison, who tracks the market for commodity researcher Urner Barry. In more good news for Labor Day grillers, ample supplies of chicken and pork means those prices are also falling. The U.S. holiday will be celebrated Monday’. SOURCE…

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