Beef is a staple in many households, but have you ever wondered how much it costs per pound?
With the rising prices of groceries, it’s important to know how much you’re spending on your favorite cuts of beef. From ground beef to tenderloin, there are a variety of cuts to choose from, each with their own price point.
In this article, we’ll explore the average cost of beef per pound and what factors can affect the price. So, grab a seat and let’s dive into the world of beef pricing.
How Much Does Beef Cost Per Pound?
The cost of beef per pound can vary depending on a few different factors. One of the biggest factors is the cut of meat you’re purchasing. Ground beef is typically the most affordable option, while cuts like tenderloin can be much more expensive.
On average, the total cost per pound for packages of beef should be around $9. However, if you purchase a whole beef, your cost per pound will be slightly lower, and the cost per pound of a quarter beef will be a little more.
It’s important to note that these prices are based on hanging weight, which is the weight of the carcass after it has been slaughtered and dressed. The average hanging weight for a quarter beef is 175-225 pounds, and after processing, you can expect to have around 120-150 pounds of beef for your freezer.
In addition to the cost of the meat itself, there is also a processing fee that customers are responsible for paying. On average, this fee can range from $100-$125 per quarter beef.
Understanding Beef Cuts And Grades
When it comes to purchasing beef, it’s important to have a basic understanding of the different cuts and grades available. The United States Department of Agriculture (USDA) grades beef based on its quality, which is determined by factors such as the animal’s age and the amount of marbling in the meat.
There are two main types of grades for beef: quality grades and yield grades. Quality grades are used to determine the tenderness, juiciness, and flavor of the meat, while yield grades are used to determine the amount of usable lean meat on the carcass.
The highest quality grade for beef is Prime, which is produced from young, well-fed cattle that have abundant marbling. Prime beef is typically sold in high-end restaurants and hotels. Choice beef is also high quality, but has less marbling than Prime. It is still very tender and flavorful, especially when it comes to cuts from the loin and rib.
Select beef is leaner than Prime and Choice, but still fairly tender. It may lack some juiciness and flavor due to its lower marbling content. Standard and Commercial grades are often sold as ungraded or store brand meat, while Utility, Cutter, and Canner grades are typically used for ground beef and processed products.
When purchasing beef, it’s important to pay attention to the cut as well as the grade. Lean cuts like sirloin steak should have less fat, while tender cuts like ribeye steak and chuck roast benefit from more marbling for added flavor and tenderness. Look for consistent and even marbling throughout the meat for the best quality.
Factors That Affect The Cost Of Beef
There are several factors that can affect the cost of beef, including supply and demand, production costs, and market competition. The prices of beef and competing proteins in the meat case are not the only factors affecting beef demand. Consumer incomes, taste, appearance, convenience, and freshness are also important determinants. A 1 percent increase in total consumer expenditures can increase beef demand by 0.803 percent. This means that beef demand is sensitive to overall macroeconomic conditions and consumer willingness to spend.
In recent years, the demand for beef has strengthened compared to previous years. However, many factors can contribute to the cost of beef, including the cost of chemical fertilizers used to grow feed for cattle, packaging materials, and labor shortages at processing facilities. Carbon dioxide, which is used in ground beef production to keep meat cold, has almost doubled in price over the past year.
In addition to these factors, the type of cut you purchase can also affect the cost of beef per pound. Ground beef is typically the most affordable option, while cuts like tenderloin can be much more expensive. Purchasing a whole or quarter beef can also affect the cost per pound. The average hanging weight for a quarter beef is 175-225 pounds, and after processing, you can expect to have around 120-150 pounds of beef for your freezer. Additionally, customers are responsible for paying a processing fee that can range from $100-$125 per quarter beef.
Average Cost Of Ground Beef Per Pound
Ground beef is a popular option for those looking for an affordable source of protein. The cost of ground beef per pound can vary depending on a few different factors, including the quality and grade of the meat, whether it’s organic, current market conditions, and where it’s purchased.
On average, the cost of 100% ground beef in the United States is around $4.80 per pound as of 2022. However, this can vary widely depending on the lean to fat ratio, with common ratios including 73%, 75%, 81%, 90%, 93%, and 100%. As the percentage of lean meat goes up, so does the price.
According to the Bureau of Labor Statistics, as of 2001, 100% ground beef averages close to $3.67 per pound, while lean and extra lean ground beef can be closer to $5.75 per pound. However, prices can vary widely depending on where you shop. For example, Heb grocery stores list an 80% lean value pack for $2.89 per pound, while a 90% lean pack will be closer to $4.49 per pound. The leanest ground beef they sell, at 96% lean, retails for $5.49 per pound.
Walmart offers similar prices for ground beef, with an 80% lean pack retailing for around $2.20 per pound and a 93/7 grass-fed ground beef pack retailing for closer to $7 per pound at Wegmans.
Canned ground beef can also be found online for about $6 to $9 per 28-ounce container. While this may seem more expensive than raw ground beef, canned ground beef is all-natural, fully cooked, and requires no water when prepped.
Average Cost Of Ribeye Per Pound
When it comes to ribeye steak, the cost per pound can vary greatly depending on where you purchase it. Generally, you can find ribeye at your local butcher or grocery store for anywhere between $10 and $20 per pound. However, if you’re looking for a better quality cut of meat, such as USDA Prime or Wagyu, you can expect to pay significantly more.
For example, a USDA Prime thick cut of ribeye weighing one pound can cost anywhere from $15 to $17, while a USDA Choice cut of the same quantity can be purchased for less than $10. Additionally, if you’re looking for a more aged and flavorful ribeye, HEB grocery store offers a 14-day aged ribeye steak for $16 per pound.
If you’re looking to purchase larger quantities of ribeye, warehouse stores like Sam’s Club and Costco offer bulk options. Sam’s Club sells a three to five-pound steak for around $45, averaging out to about $9 per pound. Costco’s ribeye averages around $10 per pound and comes in packages such as 16 pounds of steak for around $170.
If you’re looking to dine out and enjoy a ribeye steak at a local restaurant, the cost can range from $1.60 to $2.80 per ounce depending on the franchise and geographical location. However, this option is typically the costliest but will provide a more convenient and potentially higher quality dining experience.
Average Cost Of Tenderloin Per Pound
When it comes to purchasing tenderloin, the cost per pound can vary greatly depending on various factors such as market demand, grade, time of year, and where you purchase it from. On average, the cost of whole beef tenderloin can range from $13 to $36 per pound.
The least expensive option is usually the U.S.D.A Choice beef weighing between five to nine pounds and untrimmed, which can cost around $13 per pound. However, you will need to trim the meat of its fat and silver skin yourself. If you prefer to have it trimmed by a butcher or if it is already trimmed, then the cost can be about $23 to $35 per pound.
At Sam’s Club and Costco, a five to nine pound USDA Choice beef tenderloin will retail for around $15 per pound. According to Cooking Light Magazine, Whole Foods charges $23 per pound for untrimmed beef tenderloin or $34 for trimmed beef tenderloin. Walmart charges around $17 for untrimmed beef tenderloin, while Publix charges around $15 per pound.
It’s important to keep in mind that these prices are subject to change and may vary depending on your location and the specific time of year. Additionally, peeled extreme beef tenderloin can cost more due to additional processing fees.
Tips For Saving Money On Beef Purchases
If you’re looking to save money on your beef purchases, there are a few tips that can help:
1. Buy in bulk: Purchasing a whole or quarter beef can actually save you money in the long run. While the upfront cost may be higher, your cost per pound will be lower, and you’ll have plenty of meat to last you for several months.
2. Choose cheaper cuts: Instead of opting for expensive cuts like tenderloin, consider purchasing cheaper cuts like chuck roast or brisket. These cuts are perfect for slow-cooking or braising, and they can be just as delicious as more expensive cuts when prepared properly.
3. Learn how to process the meat yourself: If you’re up for the challenge, learning how to process your own meat can save you money on processing fees. However, keep in mind that this can be a time-consuming and messy process.
4. Look for sales: Keep an eye out for sales at your local grocery store or butcher shop. You may be able to snag a great deal on a cut of meat that you wouldn’t normally purchase.
By following these tips, you can save money on your beef purchases without sacrificing quality or taste.