Just as grilling season kicks into high gear, beef prices are shooting up again and if you’re planning to buy steaks, prepare yourself to pay more.
At Lehr’s Prime Market, customers like Bruce Pennington are seeing the cost of their summer barbecue going up, again.
Owner Allison Homan is trying not to pass every supplier hike on to her customers. “We are doing our best to keep our margins as low as we possibly can, but at some point, there are certain margins we have to make to stay in business,” Allison said.
Now a hack has temporarily paused production at one of the world’s biggest beef producers, JBS Meat Products, with 5 US plants.
Purchasing Manager JT Homan has been forced to raise the price of tenderloin filets to $28 a pound, the highest ever. “They raised it $9 a pound, that’s tenderloin, that’s our cost,” JT said. “Ribeyes, those were raised $5 a pound, strips are $4.
So what’s a consumer supposed to do? Well the easiest thing is to buy a cheaper cut of beef, like sirloin, and then well marinate it. Or you can buy a more unusual cut of beef, where prices haven’t gone up so much.
“Our prime beef and Wagu options, haven’t been raised at all, and I think that’s because they are not commodity items, not everyone uses them the same way,” Allison said. Allison wished she could predict lower prices this fall but, “Everyone is hopeful things will even out or even come back down a bit, but no one really knows what the future holds.”
Butcher shops are hoping their customers understand that they are not profiting from the price surge, and are feeling it as much as shoppers are. As always don’t waste your money.