Memorial Day cookout prices jump: beef 14%

May 24 reporting from 24/7 Wall St. and TheStreet put a number on what many holiday shoppers were already seeing at the meat case: Memorial Day cookouts cost more this year. 24/7 Wall St., citing CNBC consumer reporter Brandon Gomez, said ground beef for burgers was up more than 14%, steak was up more than 16% and hot dogs were up nearly 11%. TheStreet said some common cookout staples rose by as much as 98%, adding pressure to a holiday meal that is usually treated as one of the cheaper long-weekend traditions. FOX 13 Utah reported that shoppers there were still planning to grill, but were changing what they bought. ### Which foods are driving the increase at the grill? Ground beef, steak and hot dogs were the clearest drivers in the May 24 24/7 Wall St. report. The outlet said beef for burgers had reached record highs, with steak and hot dogs also posting double-digit gains from a year earlier. TheStreet’s May 25 report pointed to a broader list of increases beyond meat. Brats were up 28%, a pound of ground beef rose 20%, and Kraft beef hot dogs increased 12%, it said. Tomatoes, rolls, lettuce and watermelon were also higher, according to the report. ### How steep were the biggest jumps outside beef? Corn was the standout item in TheStreet’s tally. (247wallst.com) The outlet said the price had climbed to nearly $6 from $2.97 a year earlier, which amounts to roughly a 98% increase. Store-bought pies also posted large gains, with apple pies up 37% and key lime pies up 24%, according to the same report. (thestreet.com) Beer and other cookout basics were also cited as part of the broader increase. CNBC said key barbecue staples including ground beef, hot dogs and beer had posted sharp price increases in the latest consumer price data. ### Are families canceling cookouts or changing the menu? Salt Lake City shoppers told FOX 13 Utah they were still going ahead with Memorial Day cookouts, but were watching prices closely. (thestreet.com) The station said families were rethinking what went into the cart before the burgers hit the grill. Utah’s local reporting matched what broader price trackers were showing nationally. (cnbc.com) Fox Business, citing Bureau of Labor Statistics data, reported ground beef prices were up 14.5% year over year, steak was up 16.1% and frankfurters were up 10.7%. It also said chicken prices were down modestly from a year earlier, giving shoppers a cheaper protein option if they were willing to swap out beef. (fox13now.com) ### Why is beef taking such a large bite out of holiday budgets? Fox Business attributed the beef jump to the cattle market. The outlet said U.S. cattle inventories had fallen to the lowest level in more than 70 years as ranchers dealt with drought impacts and higher overhead costs, shrinking herd sizes and pushing prices higher. (foxbusiness.com) A separate Reuters-republished report from last year, resurfaced in search results, said Rabobank estimated a Memorial Day cookout for 10 people at $103 and linked higher costs to beef prices. That report also cited market researcher Ian Anderson of Expana saying some consumers were trading down to cheaper beef cuts rather than switching fully to pork or chicken. (foxbusiness.com) ### What are shoppers being told to do now? TheStreet said selectivity mattered this year, with some staples rising far faster than others. FOX 13 Utah’s reporting suggested shoppers were already following that advice in practice by trimming carts rather than skipping the holiday meal altogether. May 25 is Memorial Day, and the next price check for consumers will come at the store. (usnews.com) Families buying beef, brats, hot dogs, produce and desserts this week will see those higher shelf prices item by item, while lower-cost substitutes such as chicken remain one of the few reported areas of relief. (foxbusiness.com) (thestreet.com)