Carnivores Rejoice, Steaks and Burgers Are Cheap for Grilling
- Markets, restaurants load up on beef to sell to customers
- Gains for meat demand prompt bullish bets on cattle futures
This article is for subscribers only.
Go ahead, throw another T-bone on the grill. Thanks to a boom in beef production, steaks and burgers will finally be cheap enough this summer to rival pork and chicken.
The surge in output means the U.S. is headed for a meat bonanza. Americans will eat 8 percent more red meat and poultry per capita this year compared with three years earlier -- a record jump in government data going back to 1970. Beef, in particular, is expected to see increased consumer demand as prices in grocery stores drop, making the meat more competitive.