Thursday, January 31, 2008

Beef Prices Expected to Fall

steer beef prices 2008 expected to fallAccording to the USDA, beef prices are expected to fall in 2008.

In this audio report (mp3), USDA economist Joel Greene explains that beef costs will drop for several factors. These include a good supply of beef and other meats and possible decline in consumer spending due to economic uncertainty.

This report offers a good point that beef and meat prices are most affected by supply and demand issues---not input costs like feed grains. And consumer prices are most impacted by energy, labor and marketing costs often at the closest point of the retail sale.

Source: USDA

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