Beef Prices Expected To Drop

Shoppers looking for beef will find more of it in the next few months, and at possibly lower prices than a year ago. The agriculture department's forecasting beef production this year to be 3.5% higher than 2017.  Production next year is expected to go up another 2% and already for consumers at the beef counter.

"The increased supplies of beef are sort of working their way through into the market."

And beginning to bring retail prices down. Shayle Shagam said  USDA's benchmark price based on choice beef cuts was 6-dollars and 2-cents in July.  "But that still is about a little over a percent below July of 2017."

And for all of 2018 "we do expect to see prices to average in the low $5.80 range."

It was $5.91 for 2017. However, that's just the benchmark average for choice beef cuts. For all beef, USDA is still forecasting 2018 retail prices to average between 05%-1.5% higher than last year.