Beef prices surged to an all-time high in July as the market grappled with consistently strong demand and long-term issues in domestic production.
According to the latest consumer price index, which the Bureau of Labor Statistics published on Tuesday, the beef and veal index rose by 2.5% in July, compared to 0.2% for the broader food category. This capped an 11.3% increase over the past 12 months.
Meanwhile, the price of ground beef and uncooked beef steaks has risen by 11.5% and 12.4%, respectively, both now at record levels.
it’s explicable though.
if I can sell a hundred units a month of a product, and 1 units of an alternative product, then I probably get better prices on purchasing from the supplier on the more popular product, and it’s unlikely I can get a comparable discount on the other one. and the labor cost per unit sold on my end is going to be the same, and the unpopular product is going to cost me storage space as well. so to make it worth my while, I need to push the price as high as the picky customers will tolerate.