Why are meat prices so high? Buying steak, chicken and pork has gotten increasingly expensive over the past year but things might start getting cheaper real soon.
SAN FRANCISCO -- The rising cost of groceries, and notably the price of meat has led to many Americans tightening their belts when shopping for food.
Kelly Gallagher, head butcher at Mill Valley Market has seen customers change their buying habits at the counter."What some people have done, especially with prices on some items going up, they'll try to find a less expensive cut and try to work with that or they won't buy quite as much." "We think food inflation will peak somewhere in the spring or summer as you begin to see some of the issues food companies faced in the early part of 2021 lapse with a lower run rate in the back half of the year," says Peter Galbo, a food and beverage analyst with Bank of America.
Steven Maxey, Vice Chairman Elect of California Beef Council says the biggest challenge the beef industry experienced that has contributed to the rising price of beef the last few years has been a severe labor shortage due to the COVID-19 pandemic, that especially affected packing houses from producing at capacity.
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