As prices for food have risen over the Spring and early Summer, one price is on the decline. The cost of meat has taken a downturn and sales on hamburger, chicken, and pork are showing up at the super market. The good news is there is still time to stock up because the BAD news is these good deals wont be around for long.
There is actually a logical reason for the price downturn on meat and it has to do with the price of feed. As prices on corn, soy and other feed grains skyrockets, it becomes too costly for farmers to feed their cattle. Rather than waiting for them to get larger like they typically do, farmers cut their loses by taking them to market. This results in a temporary flood of cheap meat.
“There’s definitely liquidation of livestock happening,” and that will cause meat prices to rise later this year and into 2009, said Brenneman, who is also the vice chairman of the American Meat Institute." Full Story
According to Joelle Cremeen, manager of a Colorado Springs, CO bakery surplus store frequented by area ranchers, they are dumping their cattle as quickly as possible.
"All of them are telling me the same thing. They had to get rid of their cattle NOW and the prices they are getting just aren't very good. " said Joelle, "They also all told me to stock up while the meat is cheap because low prices are not going to last. I am going to start pricing chest freezers."
I already have my freezer and have been filling it with 99¢/lb ground beef and 99¢/lb chicken breast. As I see sales on chicken, pork and beef, I will buy as much as the weekly grocery budget allows so I can ride through the prices increases to come. I suggest you do the same.