Alberta beef prices hit new high

The cost of ground beef is up 18% from last year

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beef prices

(Diana Miller/Getty Images)

CALGARY – Beef prices continue to climb to new highs as dry conditions persist in Canada’s cattle heartland.

According to data released today by Statistics Canada, the price of 100 pounds of Alberta beef at slaughter rose to $192.80 in May.

That’s a 36 per cent jump from May 2014 and the highest price on record.

The high cattle prices have translated to soaring beef prices in stores, with ground beef costing $12.64 per kilogram — an 18 per cent rise compared to a year ago — and sirloin up to $24.22 per kilogram, a hike of 23 per cent.

Dry conditions in eastern Alberta and western Saskatchewan have hurt the growth of grasses that producers use to feed their cattle, forcing some farmers to buy feed or dip into stocked grains.

According to cattle market analyst Dallas Rodger at Canfax, producers are starting to sell off some of their herd to preserve grazing lands.

He says the sell-off is helping to slow price increases, but in the longer term it will make it harder for cattle farmers to increase their herds.

4 comments on “Alberta beef prices hit new high

  1. Over priced as it is. I guess it’s chicken or fish when I can afford it.

    Reply

  2. I can buy a frozen box of chicken legs for $35.00 when I see specials on a few different stores here locally in Toronto. This is 88 cents a pound. Chicken barbequed is awesome.

    I prepare it many ways. We like with spices with B.B.Q sauce, straight B.B.Q,, with Ketchup etc.

    Reply

  3. I work 3 part-time jobs with 18, 20, 25 works a week from Monday to Saturday. Altogether, I am making $12.00 an hour for 63 hours which comes out to $756 a week gross but my net paychecks come out $552 per week.

    I am only 23 years old and after paying my rent, phone, internet, food, shelter, transportation, income taxes, I have no car and other necessities that I have to pay, I am left with $200 a week. I have saved $33,000 in 3 years now and the only way I did it was being careful, smart with my money because I am on my own here. I have no family in this country.

    I will buy beef when it goes on sale. I bought $100 worth at $2.97 a pound a couple of weeks ago and B.B.Q it for the summer at my friends house. I buy chicken at $1 a pound or less and the savings I buy some beer too.

    I always live well but never at or above my means. I live below my means but well.

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  4. Peter, you are a rare breed indeed. It is good to hear there are still people in this country to act and think responsibly. If you can’t afford it after saving money and putting your financial future first then don’t buy it.

    We did find too some beef at $2.97 per pound and stocked up buying $210 for the whole summer. This is about $70 more than last year for about the same amount of beef, 70 pounds.

    We do try to substitute with more chicken and use hot dogs, sausages when on sale, $1 a pound or less, $1 a pack, $2 a pound.

    People today put too much purchases on credit and don’t think about the consequences. Our family with my wife and 2 kids, 2, 4 years old, we make sure we look at weekly sales for groceries and other sales for items we need and want.

    We figure that we are saving at least $90 a week or about $4,700 a year by shopping around and using competition to our advantage. This $4,700 a year is used to top up our TFSA’s in which is currently invested returning 4.5% in safer, diversified investments.

    This may seem alot now, but in 30 years to retirement, this would be $300,000 or more and $14,000 annual income.

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