Beef prices tumble after hitting all-time high in 2014

After beef prices hit record highs in 2014, consumers are beginning to see a decline in prices after one of the largest cattle population expansions in history.

Last week’s wholesale price for ground chuck fell about $1 per pound. The prices dropped $1.74 for brisket, flat and boneless cuts compared to the prices from a year ago.

In stores, retail prices for beef products are also falling. The USDA’s National Retail Report from the past week showed that retail prices for skirt steak fell to 73 cents per pound.

Missouri farmers may have to adapt to the falling prices and how many cattle they breed in fall.

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