Beef Prices

Hi Friends,

You may or may not have noticed that beef prices have been on the rise during the global pandemic. Especially over the last few months, the prices at the local grocery stores have been spiking. Well, I couldn't wait any longer - I needed a ribeye steak:

Here is a chart to give you some insight into the price trend of beef as a traded commodity:

Part of the increase can be attributed to forced shutodwns at slaughterhouses but I was also thinking that demand would be flat or down with more people at home and less people eating out. Hard to tell all the reasons for the higher beef prices, honestly. I know demand is high at grocery stores due to hoarding, so maybe the "price gouging" effect is also in play while grocery stores try to maximaze profits.

Have you slowed down your beef consumption?

Thanks for coming by,
Brian