Retail Ground Beef Prices

Retail Ground Beef Price Report

In October 2024, retail ground beef prices experienced a slight decrease from September's all-time high, dropping to $5.59 per pound. Despite this dip, October’s price still represents the highest on record for the month of October.

Yearly Comparison

The average price of retail ground beef in 2024 so far is $5.35, the highest annual average in history. When compared to previous years:

• 2024 vs. 2023: The average price increased from $5.02 to $5.35, a rise of approximately 6.57%.
• 2024 vs. 2022: The average price increased from $4.81 to $5.35, a rise of approximately 11.22%.

Monthly Average for 2024

So far, 2024 has maintained consistently high prices, with each month setting record highs for its respective month. The September peak at $5.67 represents the highest recorded price for retail ground beef, followed closely by October at $5.59. This trend indicates sustained demand or supply pressures, keeping prices elevated throughout the year.

In summary, retail ground beef prices in 2024 have not only reached historical highs for individual months but also set a new record for the yearly average, marking a notable trend in beef retail pricing.