With Memorial Day around the corner, meat prices hit all-time high
Updated On: May 20 2014 07:08:50 PM EDT
Economists say beef and pork prices are at an all-time high — just in time for those Memorial Day weekend cookouts.
Prices for bacon and burgers are up about 15 percent from this time last year. But the higher prices don't seem to be stopping people from buying.
Adriana Preston is buying meat for her upcoming wedding.
“It means that I don't have steaks as much as I like,” Preston said. “It's cheaper per pound for the chicken than beef or pork or anything else like that.”
Nancy Pike, the manager at Carroll's Meat Shoppe in Arlington, broke down the increase in prices for some items over the past month.
She said 5 pounds of beef would've cost $9.99. Now it's $11.99.
T-bones and sirloin would've been $8 a pound. Now they're $11 a pound.
And rib-eyes would've been $9.99 a pound. Now they're $12.99 a pound.
“Costs increase for everything every single year,” Pike said. “We're not paying 5 cents for a loaf of bread anymore. There's inflation. I can't think of anything where prices have steadily gone down.”
Pike said the higher prices, which stem from animal diseases, drought, a smaller number of cattle and gas prices, actually have not had a negative impact on business.
Economists say it could be 2016 before there is more beef available on store shelves. So for now that leaves few options for people who love meat.
“I'm a little tighter on the budget now, but I still make things work,” Pike said.
She said buying in bulk is one option to save money.
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