Retail Meat Prices Slip Lower in August

Consumer prices for meat decline 0.4% in August, compared to figures compiled in July.  A monthly report by the Bureau of Labor Statistics shows overall U.S. meat prices for consumers were lower on softer prices for beef roasts and ham.  August prices fell 2.1% on beef roasts, 1.5% on beef steaks and 0.1% on ground beef.  The decline follows gains of 1% in June and 1.3% in July.

Bacon went against the downtrend, increasing 3.8% in price from July, as did pork chops, with a gain of 2%.  Record-high prices on bacon reflect higher wholesale values that were present in the supply chain earlier in the summer.

However, those prices have dropped since then.

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