Beef, hot dog prices rise ahead of Memorial Day

Fox Business reported on May 22 that Americans heading into Memorial Day weekend are paying more for several core cookout items, with beef, hot dogs and fresh vegetables all up from a year earlier. The report, citing April Consumer Price Index data from the Bureau of Labor Statistics, said tomato prices rose 39.7% year over year and frankfurters were up 10.7%, while chicken prices edged lower. ConsumerAffairs, in a separate May 22 report, said beef prices were near record highs as shoppers prepared for the holiday weekend. WIRED and retailer sale pages, meanwhile, showed Memorial Day discounts on grills and smokers from Weber, Traeger and Recteq. ### How much are the main cookout ingredients up? April inflation data cited by Fox Business showed some of the sharpest increases in items commonly used for backyard cookouts. Tomatoes rose 39.7% from a year earlier, according to the report, while the Bureau of Labor Statistics’ index for frankfurters increased 10.7%. Cakes, cupcakes and cookies were up 5.1%, and ice cream prices rose 2.7%, Fox Business said. (foxbusiness.com) Fresh fruit prices rose more modestly, according to the same report. Fox Business said the BLS index for fresh fruits increased 2.1% year over year through April, led by citrus fruits at 6.5%, bananas at 4% and apples at 3.1%. Chicken was one of the few proteins to post declines, with prices down 0.7% from a year earlier, including a 1.8% drop for fresh whole chicken. (foxbusiness.com) ### Why is beef getting hit harder than some other meats? ConsumerAffairs reported on May 22 that beef prices were being pushed higher by tight cattle supplies and steady demand ahead of the summer grilling season. The outlet said the U.S. cattle herd is the smallest in decades, after drought conditions and high feed costs led ranchers to reduce herds. (foxbusiness.com) The American Farm Bureau Federation said in a May market note that beef demand remained strong as Memorial Day approached while cattle inventories stayed historically tight. The group said the meat case reflected “strong demand meeting constrained and evolving supply,” with beef remaining a cookout centerpiece despite record-high prices. (consumeraffairs.com) ### Are shoppers likely to switch proteins? ConsumerAffairs said some shoppers may look to cheaper proteins and budget alternatives as beef prices climb. Fox Business reported that hot dogs may offer only limited relief because frankfurter prices also rose, though less than many beef items, while chicken prices declined from a year earlier. (fb.org) CNBC, in a May 22 segment on holiday grocery costs, also said ground beef, hot dogs and beer had posted sharp price increases in the latest CPI data as grocers tried to appeal to more price-conscious consumers. ### Are grill deals offsetting any of the pain? WIRED reported that Memorial Day promotions included discounts of as much as $250 on selected grills, griddles and pellet smokers. (consumeraffairs.com) Its roundup named Weber, Traeger and Recteq among the brands with markdowns heading into the holiday weekend. Weber’s U.S. sale page also advertised a Memorial Day promotion on pellet grills, griddles and grilling tools, while USA Today said major brands including Traeger and Weber were discounted at retailers such as Lowe’s, Ace and REI. (cnbc.com) ### What should shoppers watch through the weekend? May 23 retailer promotions and media sales roundups indicate the grill discounts are live through the Memorial Day shopping window, while the food-price comparisons are based on April inflation data published this month. (wired.com) Shoppers comparing costs this weekend can track current grill offers on brand sale pages and use the latest CPI-based cookout breakdowns from Fox Business, ConsumerAffairs and other outlets as they finalize holiday menus. (weber.com) (foxbusiness.com)