Record-high meat prices, with beef averaging $9.64 per pound (up 13% from last year), are reshaping American summer cookout budgets as consumers shift from expensive beef to more affordable alternatives like chicken (approximately $4.17 per pound) and hot dogs, while also taking advantage of cheaper items like potatoes and looking for deals on items such as lobster tails to manage rising food costs during grilling season.
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How record prices are reshaping the American summer cookoutAdded:
Memorial Day weekend is all wrapped up, kickstarting the unofficial beginning of the summer. And for many, that means grill season. But if you're planning a cookout this summer, brace yourself for some sticker shock. Meat prices are way up.
Firing up the grill this summer, the high cost of meat may burn a hole in your wallet.
>> I've been in this business over 50 years right now. Um, and I've never seen the meat prices so high.
>> Stu Leonard Jr. is the president and CEO of Stu Leonard's grocery stores in the New York tri-state area. He says he's been splitting the rising costs with his meat suppliers instead of passing off those costs to consumers.
>> I can't pass 100% of our cost increases on to customers and they're fed up right now.
>> The average retail price for beef was a record 964 per pound last month. That's 13% more than last year, according to the USDA. Rising operating costs have forced many cattle farmers to reduce their herds. The USDA says herd levels are at a 75-year low, but the demand for meat in the US is still skyhigh. And that's one of the reasons we're seeing record high beef prices. Instead, Leonard suggests buying hamburgers and hot dogs.
>> We're going to see a little shift away from the expensive meats. We are noticing customers switching from beef down to chicken.
>> Chicken is cheaper this year. The average price for boneless chicken breasts is about 417 per pound. And salmon prices have fallen, but many fresh vegetables will cost you a lot of green this summer. Tomato prices are up nearly 40% from last year due to weather hurting supply. Potatoes are cheaper though, so how can you save? There's always something out on the market where they want to move a product.
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