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U.S. beef, veal prices surge in November
Story Date: 12/14/2012
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Source: MEATINGPLACE, 12/13/12
U.S. beef and veal prices jumped 8.2 percent in November, pushing up prices for finished consumer foods by 1.3 percent overall, the Bureau of Labor Statistics said in its latest report on the producer price index.
That increase is the biggest gain for beef and veal since July of 2008. The increase in beef and veal prices more than reverses October’s 2.5 percent decline for the category.
However, lower energy costs helped reduce the overall U.S. producer price index by a seasonally adjusted 0.8 percent overall.
Pork prices slipped 0.1 percent in November, after an 8.1 percent gain the previous month.
Processed young chickens saw an increase of 2.9 percent, on top of October’s 3.8 percent rise.
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