Retail Price Matrix Launched to Assist With Beef Promos

Wholesale prices for ribeye steaks and striploin subprimals have reached seven-year lows, and pricing spreads between U.S. Department of Agriculture Choice and Select grades have narrowed significantly, offering retailers a good opportunity to promote middle meats, representatives from the Beef Checkoff Program said here at the American Meat Institute’s annual Meat Conference this week.

DENVER — Wholesale prices for ribeye steaks and striploin subprimals have reached seven-year lows, and pricing spreads between U.S. Department of Agriculture Choice and Select grades have narrowed significantly, offering retailers a good opportunity to promote middle meats, representatives from the Beef Checkoff Program said here at the American Meat Institute’s annual Meat Conference this week.

To assist with retail promotions, The Beef Checkoff Program has funded the development of a Retail Pricing Matrix tool that factors in current wholesale prices for several cuts, and average gross margins based on commonly used cutting techniques and cutting test yield information.

“Consumers rank price per pound as the most important factor when purchasing meat,” said Jim Henger, executive director of channel marketing for the National Cattlemen’s Beef Association, which contracts to manage retail programs for the Beef Checkoff. “By sharing these savings with customers, retailers can assist their customers in trading up rather than having to trade down while shopping the meat case.”

More information is available at www.beefretail.org/resoRetailPricingMatrix.aspx.