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>Cheap beef is here for summer burgers, Taco Bell burritos

Posted by Manda on May 24th, 2016

Vegetarians aside, who doesn’t like cheap burgers?

Americans celebrating Memorial Day this weekend – the unofficial kick-off to summer and the grilling season – have one more windfall coming their way: the cheapest retail prices for ground beef in two years.

Bumper grains crops have reduced costs to feed animals, and cattle ranchers have been expanding their herds. That’s good news for consumers who will see beef prices drop as much as 2 percent this year as annual production increases for the first time since 2010 nike air max 97 rouge pas cher , the U.S. Department of Agriculture predicts. Hedge funds are betting that the lure of low-cost meat will help stimulate demand and help cattle futures to rebound.

“We’re absolutely at what could be the peak usage season of the year,” said Don Close, Rabobank International’s St. Louis-based vice president of food and agribusiness research for animal protein. “This year has been somewhat frustrating just with so much rainy, cold weather, particularly through that East Coast corridor. Expectations are there’s a lot of pent-up demand there nike air max 97 blanche pas cher , once that summer weather actually comes to bear.”

After the Fourth of July, Memorial Day is tied with Labor Day for the most popular occasion for barbecuing, according to the Hearth, Patio & Barbecue Association. More than 60 percent of grill owners will fire it up this weekend, the group estimates. Adding to the excuses to celebrate nike air max 97 silver bullet homme , it’s more than burgers that have gotten cheaper. An index of seven party staples that includes ice cream and potato chips is at the lowest level since August, according to retail prices compiled by Bloomberg. The measure is down 1.4 percent from this time last year.

It’s not just grilling enthusiasts who are benefiting from cheap beef. Taco Bell last month brought back its Beefy Crunch Burrito and the Cheesy Double Beef Burrito, both being sold for . “Favorable” costs for the meat will last through the rest of 2016, allowing Taco Bell to offer “aggressive” specials, Greg Creed nike air max 97 silver bullet pas cher , chief executive officer of its parent company, Yum! Brands Inc., said in an April 21 earnings call.

The gains for beef output mark a reversal of the past several years. A U.S. drought parched pastures and sent feed prices soaring in 2012, forcing producers to cull the national cattle herd to the smallest since the 1950s. Retail ground-beef was at an all-time high as recently as February 2015. The herd numbers have since rebounded, reaching a five-year-high at the start of this year. Ample rains this spring have left national pasture conditions at the best for this point in the season in six years nike air max 97 gold femme pas cher , USDA data show. Also, making it easier to add to production, corn and soybean prices have declined in the past three years, lowering feed costs.

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Cattle futures traded in Chicago reached an almost four-year low in April. Prices have since bounced back 3.1 percent to .1745 a pound as of Friday, and money managers are betting the recovery can continue. The net-long position surged 88 percent to 32 nike air max 97 gold pas cher ,633 U.S. futures and options contracts in the week ended May 17, according to Commodity Futures Trading Commission data relea. Cheap Air Max Cheap Air Max 95 Cheap Nike Air Max Jordan 1 Shoes For Sale Air Max Outlet Cheap Jerseys China Wholesale NFL Jerseys China Cheap NFL Jerseys China Cheap Jerseys Wholesale Cheap NBA Jerseys
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