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Beef middle meat cuts from the loin and rib are currently at lower-than-average levels due to an increase in supply and the current economic conditions. As consumers fire up their grills across the country, retailers have a great opportunity to aggressively feature steaks from the rib and loin, thereby passing down savings to consumers, increasing profits and building long-term customer loyalty.
According to Cattle-Fax, the wholesale price for a Choice Rib, Ribeye Roll, Lip-On was $4.46 per pound for the week ending on May 15, 6 percent lower than the same period last year. Wholesale prices for Choice Loin, Tenderloin, Full, Muscle On, Defatted was $7.50 during this time, 4 percent lower than year-ago prices.
“Retailers have a great opportunity to help their customers create restaurant-quality meals at home by grilling steaks from the loin and rib this summer,” noted Randy Irion, director of channel marketing for the National Cattlemen’s Beef Association (NCBA) in Centennial, Colo., which contracts to manage retail programs for the Beef Checkoff. “Wholesale prices will continue to be below historic levels through the summer grilling season. Retailers can offer customers beef’s most tender cuts at lower-than-average prices, while increasing profits and gaining greater customer loyalty. It’s a win-win situation.”
For more information about the Beef Checkoff’s multiple programs available to assist retailers in promoting middle meats to their customers in upcoming months, visit BeefRetail.org.