As Americans prepare for Memorial Day—the official kickoff to a summer grilling season of burgers and T-bones—rising beef prices have some consumers balking in the grocery aisles.
Retail beef prices are widely expected to set new records in coming weeks after wholesale prices, or the amount meatpackers charge sellers for beef, hit an all-time peak this past week. ------ Higher beef prices are pinching food budgets for consumers already wrestling with a rise in gasoline prices, the expiration of the federal payroll-tax holiday and stubbornly high unemployment. They're also expected to drive consumers to other meats after the holiday weekend, one of the biggest beef-sales periods of the year. ------ It is unclear how much beef sales this weekend may suffer and how much consumers might turn to alternatives like chicken patties or veggie burgers, say analysts.
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Sat May 25, 2013 1:32 pm
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