This Week in Retail: Beef Promotions Up, Prices Down
This week in retail, we’ll take an inside look at the retail beef complex. Feature volume is up year over year for June and July so far, indicating a strong summer for beef in 2018. Prices are comparatively lower, offering incentive for consumers—and competition for other proteins.
Urner Barry’s Weekly Retail Feature Beef Index is at a 4-year low this week, at $5.80 per pound. That’s 11 percent under last year at this time and 8 percent below the 3-year average.
If we look at the month of June in 2017 vs. 2018, buying opportunities totaled 180,488 a year ago, while June of this year saw 187,028 buying opps—a 4 percent increase. Comparatively, buying opps totaled 218,151 in July 2017. So far in July 2018, we’ve recorded 130,959 as of the week of July 16th, on pace to beat last year’s monthly feature volume... Full Story »Jul 20 12:27 AM, UB Newswires