So, will meat prices come back down much?

[tridiot]

Don't get me wrong, I know economics dictates all this, and it SHOULD come back down once all the craziness from this <cough><cough> stuff straightens out, but... I'm reminded of a scenario a few years ago.

I remember maybe 4-5 years ago when a virus went through and was killing little piglets? There was supposedly a shortage of bacon and prices went way up, essentially about doubled, I think.

But then, prices never seemed to go back down when the pork supply stabilized, did it? I mean, the meatpacking industry realized that people would PAY those prices for bacon, so when the supply picked back up, why not just keep the prices where they are and pocket the difference, right?

Right.

So how much of this current increase will remain? I don't know that we're going to be seeing $6-7/lb briskets forever, but if they manage to up prices 10-20% at the baseline when this is all done, everyone will breathe a sigh of relief and go on about their lives. But the meatpacking industry will have pulled off a major change in their favor, and there's already a lot of outcry about possible collusion in the industry.

Just curious what ya'll think, or if anyone out there is in the industry and has any "informed speculation".

 

[jcam222]

More than likely the bump will remain. Prices will likely stabilize 10-20% higher. Once packing plants stabilize though there may be a short term decrease below old prices as there is a glut of animals out there.

 

[daveomak]

Some states aren't allowing workers to return... THAT'S a major problem in the food chain...
The beeves will still be there... Maybe several pounds heavier... When supply exceeds demand, it will come down...

 

[jcam222]

Some states aren't allowing workers to return... THAT'S a major problem in the food chain...
The beeves will still be there... Maybe several pounds heavier... When supply exceeds demand, it will come down...

The one thing behind greed that may keep prices up to a degree is the reduced capacity based on new safety requirements. In all likelihood spacing and barriers required between workers when they do return is going to reduce output increasing the labor cost on finished product.

 

[xray]

That’s what I’m worried about, if people pay the higher prices it’s less likely to come down. I just hope it’s not the case.

I went to the store yesterday. They had two racks of ribs available. The spare ribs cost $18. I put them down and walked over to the seafood section and bought a 2lb bag of jumbo shrimp for $15.

Can I afford the ribs at $18...Yes, but I just can’t bring myself to buy them. As for beef prices, I’ll pass on them too.

 

[MJB05615]

I wouldn't enjoy the meat as much if I had to pay 2 or 3 times the usual pricing.

 

[normanaj]

Much like taxes once it goes up there it stays to never go below what it once was.

 

[Brokenhandle]

The price of beef (well all meats) are up in the store, the prices farmers are getting paid for their livestock is down, doesn't make much sense. Have a friend that raises cattle, was trying to get some sold about a week ago. He told me the packers are making over $1000 / head. I do think prices will come down but like most...not to the previous levels.

Ryan

 

[SecondHandSmoker]

They all probably figure once everyone gets accustomed to paying higher prices, there will be little incentive to lower prices to pre-pandemic levels.

 

[Khrakk]

I actually buy less meat than I used to. I was one one who was perfectly happy eating just a big slab of meat for dinner. I just dont buy as much, and cost is a big factor.

I used to be a big beef guy, but moved mostly to pork, now I've been eating chicken (and enjoy it).

 

[smokerjim]

From what I'm hearing, probably not until sometime in July, I'm sure it's going be a slow process.

 

[Motorboat40]

That’s what I’m worried about, if people pay the higher prices it’s less likely to come down. I just hope it’s not the case.

I went to the store yesterday. They had two racks of ribs available. The spare ribs cost $18. I put them down and walked over to the seafood section and bought a 2lb bag of jumbo shrimp for $15.

Can I afford the ribs at $18...Yes, but I just can’t bring myself to buy them. As for beef prices, I’ll pass on them too.

I just picked up single rack of babybacks at kroger, the price was 17 bucks for the one rack but with the memorial day sales they were 11 bucks or 2.99lb that's normal prices before the hike up. I too have passed on pork and beef at these prices but if I can get a small amount at what use to be normal price I will. I have always planned my cooks around what meat is on sale at the time.

 

[Winterrider]

Sure hope it follows the trend like gasoline. Didn't think I would ever see it below $3/ gal in my lifetime again.

 

[GaryHibbert]

The way that packing houses are ripping off the ranchers will end fairly soon, if the ranchers stop shipping. That won't help with meat prices, since the packing houses will want to retain as much profit as they can.
The best alternative is to buy directly from the ranchers and farmers. If a whole steer or pig is too much meat to store, get together with a friend and take half each. Butchering costs are real reasonable. I just bought a pig and had it butchered to MY specs for a lot less than what it would cost to buy at the store. I'll be getting half a beef come fall.
Gary

 

[BuckeyeSteve]

I just picked up single rack of babybacks at kroger, the price was 17 bucks for the one rack but with the memorial day sales they were 11 bucks or 2.99lb that's normal prices before the hike up. I too have passed on pork and beef at these prices but if I can get a small amount at what use to be normal price I will. I have always planned my cooks around what meat is on sale at the time.

The Kroger by me didn't have any. I went to another store and they didn't have any either. I ended up going to a butcher shop (where I usually buy my meats anyway) and BB ribs were $5.99 lb. I bought them anyway, because I wanted some ribs. One store I went to Chuck Roast was $6.99 lb. Sirloin was $9.99 lb.