Quote:
Originally Posted by oldjudge
"Retail ground beef prices were at $5.08/lb. in August, down 2 cents from the month prior and up 14 cents from the same time last year. Retail ground beef prices have averaged $4.92 so far in 2023.
Retail ground beef prices averaged $4.81 in 2022, the highest annual average on record. Retail ground beef prices averaged $4.26 in 2021, up 14 cents from 2020. This is the highest annual average on record. Retail ground beef prices averaged $4.12 in 2020, up 31 cents from 2019.
Retail ground beef prices reached $4 for the first time in history in August 2014."
The above means that over the last 9 years retail ground beef prices are up 25%, or a little over 2% per annum.
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I buy a cow and hog this time of year every year and have for a long time.
I pay market price at the time of butcher. This is hanging weight per pound.
Year Hog Beef
2016 $1.10 $2.10
2017 $1.15 $2
2018 $1.10 $2
2019 $1.15 $2.05
2020 $1.15 $2.05
2021 $1.55 $2.40
2022 $1.70 $2.70
2023 $1.60 $3.45
I have noticed this with many items. The price stayed the same for a long time and then huge jumps. If you look back it has happened a few times with our economy.