The all-fresh retail beef price in October was $7.25/lb., down slightly from $7.32/lb. in September and down 4.0 percent from the record high of $7.55/lb. one year ago. In 2022, the all-fresh retail beef price has remained in a narrow range from $7.37/lb. to $7.25/lb. and has averaged $7.33/lb. through October, up from the 2021 annual average of $6.95/lb. Figure 1 includes all-fresh retail beef prices since January 2018 and shows the sharp increase in prices in 2021 and steady prices thus far in 2022.
Beef demand considers…
