Word: beefed
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...They don't see why steaks from grass-fed beef cost 98? a Ib. when all the farmer gets for that meat is 14?." Their anger touched one of the most sensitive nerves in U.S. politics. In Washington a congressional committee responded by proposing price supports for cattle while the Department of Agriculture is already investigating the spread between the price of beef on the hoof and on the butcher's meathook...
...market, are lucky to make a 10% profit-provided that they guess right on what the price will be when they sell. Meat packers' profits are smaller: last year they were six-tenths of a cent on each dollar of sales. The retailer, whose average markup on beef is 16%, often has an overhead that eats up much of this...
...chief reason meat prices are so high is the heavy cost of bringing meat to market. Actually, the price of a steer on the hoof is only a small factor in what the housewife pays for beef. The total cost includes such expenses as freight (up 75% since the war) and labor (up about 100%). Since these costs are fixed, a temporary drop in cattle prices may mean only a small reduction at retail...
Another cause of high meat prices is the consumers' preference for "choice" and "prime" grades of beef instead of the lower-priced "good" and "commercial" grades. Thus the premium-grade cuts are bid up beyond their actual worth. Actually, "good" beef at its best is almost indistinguishable from the poorer run of "choice" meat. But many retailers refuse to stock...
Unlike the U.S. appetite for wheat, which is declining, and thus adding to the surplus problem, there is still an increasing appetite for meat. Since 1951, beef-eating has soared from 55 Ibs. per capita to an estimated 75 Ibs. this year. As long as Americans keep their healthy appetite for beef, the way to lessen the spread between range and retail prices does not seem to be price supports. What is needed is a wider attempt to breed better-grade cattle with less waste, and a recognition by the consumer of the value of the cheaper cuts of meat...