Are you curious about the cost of beef per pound?
If you’re a meat lover, you may be wondering how much you should expect to pay for your favorite cuts.
The truth is, the cost of beef can vary depending on a number of factors, from the type of cut to the size of the animal.
In this article, we’ll explore the average cost of beef per pound and what you can expect to pay for different quantities and types of beef.
So grab a seat and get ready to learn all about the cost of beef!
What Is The Average Cost Of Beef Per Pound?
The average cost of beef per pound can vary depending on a number of factors. However, according to recent data, the average cost per pound of beef is around $9.
This cost can fluctuate depending on the type of cut you’re purchasing, as well as the size of the animal. For example, a half of beef from an animal producing a 700 pound carcass would yield approximately 200 to 210 pounds of retail cuts of beef for your freezer. Your assortment of cuts ranges from ground beef to tenderloin.
If you’re looking to purchase a smaller quantity of beef, such as a quarter, you can expect to pay slightly more per pound. The average cost for a quarter of beef, including processing fees, is around $5.75 per pound.
It’s important to note that these prices are based on hanging weight, which is the weight of the animal after it has been slaughtered and dressed but before it has been processed into individual cuts.
Factors That Affect The Cost Of Beef Per Pound
The cost of beef per pound is affected by a number of factors throughout the supply chain. One of the most significant factors is the supply and demand for beef. If the supply of beef is low and demand is high, prices will increase. This was seen in 2020 when the Covid-19 pandemic caused a slowdown in meat production, resulting in farmers having to cull cattle and other livestock. This, coupled with uncertainty about the future, caused farmers to scale back their production at the time, which affected production more than a year down the road. At the same time, processing facilities have dealt with labor shortages that have reduced their capacity to process meat at the same clip as before the pandemic. This reduced production came as demand for beef returned from both consumers and restaurants, forcing prices higher.
Another factor that affects the cost of beef per pound is the cost of inputs. This includes everything from the cost of feed and forage for the cattle to the cost of packaging materials used to sell the meat to consumers. Additionally, carbon dioxide, which is used in ground beef production to keep meat cold, has almost doubled in price over the past year.
The price of complements and substitutes also affects beef demand and ultimately its cost per pound. The two main competing proteins for beef are pork and chicken. If the relative price of beef increases compared to pork and poultry, consumers may substitute it for other proteins, affecting demand and ultimately its cost.
Non-price factors like consumer tastes and preferences are equally important for beef demand. The K-State Meat Demand Monitor tracks the relative importance of several meat protein attributes using monthly consumer surveys. Results consistently show that taste, freshness, price, and safety are the top four factors for consumers when purchasing protein. Therefore, if consumer preferences change or safety concerns arise, this can also affect demand and ultimately impact the cost per pound of beef.
Average Cost Of Ground Beef Per Pound
Ground beef is one of the most commonly purchased types of beef, and its cost can vary depending on a number of factors. The Bureau of Labor Statistics reports that as of 2001, 100% ground beef averages close to $3.67 per pound, whereas lean and extra lean ground beef can be closer to $5.75 per pound. However, current market conditions, the quality/grade, and whether it’s organic can all affect the cost.
At most grocery stores, common lean to fat ratios for ground beef include 73%, 75%, 81%, 90%, 93%, and 100%. As the percentage of lean meat goes up, so does the price. For example, an 80% lean value pack at Heb grocery store retails for $2.89 per pound, while a 90% lean pack will be closer to $4.49 per pound. The leanest ground beef they sell, which is 96% lean, retails for $5.49 per pound.
Walmart offers similar pricing for ground beef as Heb, with an 80% lean pack retailing for $2.89 per pound and a 90% lean pack retailing for $4.49 per pound. Wegmans, another popular grocery store, sells an 80% family pack for about $2.20 per pound, while a one-pound pack of 93/7 grass-fed ground beef retails for closer to $7 per pound.
Canned ground beef is another option and can be found online for about $6 to $9 per 28-ounce container. A can of ground beef is all-natural, fully cooked, and requires no water when prepped.
Average Cost Of Steak Per Pound
When it comes to steak, the average cost per pound can vary depending on the cut, quality, current market conditions, and where it’s purchased. On average, sirloin steak, regardless of the cut, will be in the $6 to $10 per pound range.
For example, HEB lists the prices for its steaks on its website. At the time of writing, a USDA select top sirloin steak retailed for $6.50 per pound, while a prime cut was $1 more at $7.50 per pound. Sam’s Club and Costco had prices of $6 per pound for a top sirloin and $5 per pound for a sirloin tip roast.
Wiencek’s Meats, a meat market located in Cleveland, Ohio, lists its prices online. Here, sirloin steak retails for $9 per pound, while a sirloin tip roast retails for $5.69 per pound.
It’s worth noting that grass-fed lamb is also an option for those looking for a mild flavor without any “mutton” taste. The sheep are raised fully outdoors on pasture without herbicides, pesticides, hormones, or antibiotics and are butchered by a USDA butcher. The meat is then frozen on-site and sold directly by the farmer to the consumer.
Average Cost Of Roast Per Pound
When it comes to purchasing roast beef, the average cost per pound can range from $4 to $10. The price largely depends on the quality of the meat and where you purchase it from. If you’re looking to buy prepackaged roast beef, you can expect to pay around $2 to $4 for a seven-ounce container.
If you’re buying roast beef from the deli counter at your local grocery store, you can expect to pay anywhere between $7 and $10 per pound. Arby’s, one of the largest fast-food chains that specializes in roast beef sandwiches, offers catering services and charges around $10 per pound for their roast beef. This includes the preparation and cooking of the meat.
It’s worth noting that the cost of roast beef can also vary depending on the season. Colder weather in fall and winter tends to result in higher beef prices, similar to how prices tend to increase during the holiday season.
In general, when it comes to purchasing roast beef, it’s important to keep in mind that the price can vary depending on several factors. It’s always a good idea to shop around and compare prices before making a purchase.
How To Save Money On Beef Purchases
If you’re looking to save money on beef purchases, buying in bulk can be a great option. Purchasing a quarter, half, or whole animal can help you lock in a lower price per pound and save money in the long run. This allows you to have a variety of cuts on hand for several months, and can help you avoid the fluctuating prices of individual cuts.
When buying in bulk, it’s important to consider the cost of processing fees. These fees are typically charged per pound of hanging weight, and can add up quickly. However, some farmers or butchers may offer discounts for larger purchases, so it’s worth asking about.
Another way to save money on beef purchases is to be flexible with the cuts you purchase. For example, instead of buying pre-cut filet mignon for a high price per pound, consider getting a whole tenderloin and cutting it yourself. This can save you money on the additional trimming, packaging, and processing costs associated with pre-cut meats.
It’s also important to keep an eye out for sales and promotions at your local grocery store or butcher shop. When roasts or other cuts go on sale, stock up and freeze them for later use.
By being strategic with your purchases and considering bulk buying options, you can save money on beef purchases without sacrificing quality or variety in your meals.
Final Thoughts On The Cost Of Beef Per Pound
After analyzing the data and information provided, it’s clear that the cost of beef per pound has been on the rise in recent years. Inflation, supply chain disruptions, and other factors have contributed to this increase in price. However, it’s important to note that the cost of beef can vary depending on a number of factors, such as the type of cut and size of the animal.
Despite the increasing cost of beef, there are still options for purchasing it at a reasonable price. For example, purchasing a larger quantity of beef, such as a half or whole animal, can help to lower the overall cost per pound. Additionally, shopping for beef during sales or promotions can also help to save money.
Ultimately, the cost of beef per pound is influenced by a complex set of factors, and it’s important to consider all of these factors when making purchasing decisions. By staying informed and making smart choices, consumers can continue to enjoy high-quality beef without breaking the bank.