INDIANAPOLIS— Beef prices are climbing nationwide, but that hasn’t slowed down business at the meat counter.
“What we usually would experience at three dollars a pound is something like five.” said Joseph Dugdale, the owner of Kincaid's Meat Market.
“On our end, we’re seeing prices creep up,” said Zach Fletcher, the general manager of Don's Butcher Shop. "We unfortunately have had to go up on our beef prices."
According to the U.S. Bureau of Labor Statistics, the average price of ground beef reached just over $6.30 a pound in August, a record high.
Despite that, customers are still buying beef.
“When you look at the amount we've sold, this year vs last year, we're selling more beef despite pork prices staying the same and beef prices going up,” Fletcher said.
Industry experts point to supply issues as a key driver. The U.S. Department of Agriculture reports the national cattle herd is at an all-time low.
“Given the size of the national cattle herd, we’re sort of experiencing a lack of slaughter because we’re trying to grow the herd,” Dugdale said. “In the last few years, we had an abundance of cattle because we were shrinking the herd.”
For shoppers looking to save, butchers recommend alternatives such as pork or chicken, or purchasing in bulk. Fletcher said Don’s offers bundle discounts to help customers stretch their dollar.
At Kincaid’s, Dugdale said they are monitoring the market closely.
