Cost Of Ribeye...

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mugsy27

Sous Chef
Joined
Apr 1, 2005
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Location
MD, USA
does anyone know why the price of ribeye steak has more than doubled in the past 2 years?

i remember paying $3.99/lb about 2 years ago...now its almost $9.00/lb (and these are costco prices!!)

what happened?? i can no longer afford to eat my fav. meal :mad:

what does ribeye run per lb in your area?
 
Beef prices have been climbing regularly for some time. I see similar increases for sirloin strip and tenderloin, though not double.

As to why they have been raising prices, because they can.
 
Yup, beef has been increasing in price for quite a while now. I don't even want to talk about how much veal has gone up. Veal bones for stock... bones... cost more than skinless boned chicken breast in my neck of the woods. :rolleyes:

Another oddity is the price of chicken wings. I can buy whole chicken at $0.69/lb, but chicken wings are $1.69/lb here! I like using packs of wings for stock (along with any bones I freeze ahead), but lately it's been getting kinda expensive to do so.

Even less-expensive braising cuts are getting out of control. Chuck and Round roasts are up around $3/lb!
 
DH just bought a whole ribeye the other day, on sale for $5.99 a lb. A few years back, they were sometimes $4.99 on sale, but it's been a long time since they were $3.99.
The $9.00 price is actually pretty reasonable compared to the regular prices I've seen around here.

The high gas prices have a lot to do with the increasing cost of our food. It costs more to get it to the market now.

Nick, the price of chicken wings is ridiculous. Before the popularity of Buffalo Wings, wings could be bought for 15 cents a lb.
 
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When you buy a steak or two, it will be in the range of $8-9.99/lb. on a regular non-sale day--or even more. I don't believe I have ever seen ribeye much under $4.99/lb unless you were buying the entire 3 feet of it!! And maybe not then.
I buy it when on sale (as Constance says, about $5.99 these days) in a roast form and then can either use it as a roast or cut up into steaks if I want to.
As for chicken wings, it's all about Buffalo wings!! Used to be trash--now it is TREASURE for the appetizer market. Just look in the frozen food case for the number of appetizer wings there are in there--supply and DEmand.
 
CanDoCook hit it right on the head. If it's popular, it's expensive. Beef is still the prefered meat in the U.S. and Canada and so comands a higher price than does pork or chicken. It is partly a prestige thing. You feel good about yourself when you can serve steak to someone. Add to that the cost of fuel increases and you see feel the results as your wallet or pocket-book is lightened.

When fuel goes up, it literally affects everything. the cost of producing feed goes up as the the increased fuel costs for the farm equipment is passed to the rancher. Then there's the cost of the machinery used to support the cattle, including transportation. The cost of electricity to run the processing plants increases, and is also passed to us. And finally, there's simple greed.

The costs of producing pork and poultry have similarily risen, but have not affected those products nearly as much as they have beef. And I can't say for sure, but it just doesn't add up in my mind.

A perfect example of the "supply and demand" dynamic is squid. It first hit my home town at about 75 cents per pound. Nobody around here knew what it was and basically went "yuck!". Then some people realized that it was squid that was transformed into the calimari they had eaten at the local Itallian restaurant. Suddenly, as people started purchasing it, the price jumped to over $4 per pound.

The only way to bring prices down is to boycott a product. And that is something that Americans seem unwilling, even unable to do. It is our only defense against exhorbitant cost, and is never applied. I will keep purchasing over-priced beef, and overpriced clothing, and overpriced everything else because I live in a semi-isolated area that has to have most products shipped in from somewhere else. And just like every other American, I will not boycott the car industry as I need my vehicle to get to work, to do my job, and to get me anywhere I need to go. The winters here are unrelenting, and the distances long. And yet, this is where I choose to live, in a small town, with fewer amenities than are offered in more metropolitan areas, and fewer violent crimes, etc. We live in the society we created. And we do little, as a society, to put pressures for true better life quality on employers, on polliticians, on the captains of industry, etc. We are a content people, riding our contentment into oblivion.

I just realized how cynical all of that sounds, even if it's true. So I apologize for the cynicism, but let stand what I posted as something to think about. And now, I'm going to find a thread that will help lift my spirits, and in which I can maybe do the same for someone else.

Seeeeeeya; Goodweed of the North
 
Actually Goodweed you are right on the money as to price increase...It all goes back to fuel prices...From the fuel in the tractor that produces "feed" for livestock...(even the seed and fertilizer to grow it) to the kitchen table...all along the line...everyone has to increase prices to maintain profit margins due to higher fuel /production/transportation/labor/etc. cost...and the beat goes on....

Rib-eyes (choice) here are 7.99 to 8.99 lb. for steaks cut & wrapped at the local groceries. 5.99 for whole rib-eyes on sale...however after the cut and trim at home I am not sure I am saving that much..I don't throw any of it away as I use the excess fat, tails, etc for fat in deer grind. So all in all....a good deal for me. There is one retailer that advertises whole rib-eyes for 4.99 at times...but it is "select" beef...so I don't go there.

Chicken wing prices perplex me also...Just doesn't add up!

I can remember briskets selling everyday for 99 cents...that was before people learned how to cook them and they became a fad...(way back when)

Also chuck-eyes...we could hardly give then away..then gradually they caught on...so now they also run 4.99 lb. and higher.

Enough........
 
Uncle Bob--the appetizer wing thing is the reason. I am appalled at what wings cost!! But I am buying them to make the very appetizer that has made the demand raise the price!!
 
Candocook said:
Uncle Bob--the appetizer wing thing is the reason. I am appalled at what wings cost!! But I am buying them to make the very appetizer that has made the demand raise the price!!

No doubt....we all like our "wangs" :LOL:
I know there are addtional labor/packing cost envolved...but somehow I smell a rat on the retail price of wings...Maybe if we boycott wings...:ermm:
 
Goodweed of the North said:
The only way to bring prices down is to boycott a product. And that is something that Americans seem unwilling, even unable to do. It is our only defense against exhorbitant cost, and is never applied.

Seeeeeeya; Goodweed of the North


Am I the only one here who remembers, as well as participated in, the 1973 beef boycott? Boy, I love a good boycott. I supported this boycott for well over 3 years, even though it was only to last one week.

This is the first article I came to about it...

Rising Clamor for Tougher Price Controls -- Monday, Apr. 16, 1973 -- Page 1 -- TIME

Rising Clamor for Tougher Price Controls

Monday, Apr. 16, 1973
Article Tools


adSetTarget('_blank'); htmlAdWH('93224389', '88', '31'); adSetType('');

A NEW Majority formed in the U.S. last week, and it was hardly silent.

Its platform: bring down food prices. From one end of the country to the other, consumers joined a boycott against meat, and both retailers and middlemen began to take a roasting. Some packing houses shut down, 20,000 meat-industry workers were laid off, and beef, pork and lamb sales dropped by as much as 50% in supermarkets.
 
When you talk about beef or steak prices you need to specify what grade of beef your talking about. I see a number of specials that will say Ribeye steaks $4.99 a pound but they are usually a no roll or a select grade as opposed to USDA Choice. Another factor to the more rapid rise in beef prices has to do with the amount being exported to Japan. They are willing to pay which in turn raises our prices. What we actually need is a few cases of mad cow disease in this country so it can't be exported and then you will see prices drop. I also find the price of wings rediculous. When You can buy whole chickens for .80 to 1.29 per pound and whole wings which are probably close to 80% waste are $3.99 per pound.
 
I stopped buying chicken wings because they absurdly expensive. We make sort of wings with cut up chicken breasts. Around here Choice Ribeye runs around 8.99 per pound. It goes on sale about once a month for 5.99.
 
bethzaring said:
Am I the only one here who remembers, as well as participated in, the 1973 beef boycott? Boy, I love a good boycott. I supported this boycott for well over 3 years, even though it was only to last one week.

This is the first article I came to about it...

Rising Clamor for Tougher Price Controls -- Monday, Apr. 16, 1973 -- Page 1 -- TIME

Rising Clamor for Tougher Price Controls

Monday, Apr. 16, 1973
Article Tools



adSetTarget('_blank'); htmlAdWH('93224389', '88', '31'); adSetType('');

A NEW Majority formed in the U.S. last week, and it was hardly silent.

Its platform: bring down food prices. From one end of the country to the other, consumers joined a boycott against meat, and both retailers and middlemen began to take a roasting. Some packing houses shut down, 20,000 meat-industry workers were laid off, and beef, pork and lamb sales dropped by as much as 50% in supermarkets.

I had one more year of high school left to go and wasn't yet purchasing meat for my own family. I didn't get married until 1975. That's when I started to notice the prices of various foods. Before that, and after I set out on my own, Uncle Sam fed me as I was a sailor. So nope, I didn't hear about the beef boycott. I think we might need another one, and for chicken wings as well.

Seeeeeeya; Goodweed of the North
 
I don't even bother using the wings to eat - I make stock with them and then discard the glop after it has given it's all. This week with boneless/skinless chicken breast on sale, chicken wings cost more per pound... :LOL:

It costs me almost as much now to make chicken stock as it does veal stock, about $15-$20/gal.
 
Last month I got both Ribeye & porterhouse steaks (my 2 favotites) on sale for $4.99 lb. They were 1&1/2 inches thick. I bought 8 of them.

Last week I bought Porterhouse steaks on sale for $3.99 lb. and were they good. At that price i wasnt expecting them to be so good so i only got 2. Sorry i didnt go back for more.
 
Two different things going on here.

Chicken wings, which processors could hardly give away a few years ago, are now in BIG demand thanks to the "Buffalo Wing" craze - a simple matter of supply and demand driven economy. Like someone said - whenever anything suddenly gets popular ... the price goes up.

Beef prices, on the other hand, is a little different matter - although it's still a supply-and-demand economy. This has to do with the drought conditions that goes back about 5-7 years. With the drought came less forageable food (grass available for grazing) so the cattle had to be fed with "purchased" feed, the amount of supplimental feed like hay and sorgum decreased (the drought caused less yield per acre) so feed prices went up ... and "drinking" water was scarce. It simply became too expensive to maintain large herd levels - so cattlemen sold off larger than normal numbers of their cattle at discounted prices to reduce their overhead. That is why we noticed a sudden decrease in beef prices a few years ago. Now, it's catching up to us ... increased cattle production costs, and fewer heads of cattle going to market, means higher consumer prices. Oh, and part of the recent dip in beef prices is thanks to Japan's ban on imported US beef because of the "Mad Cow" scare.

Of course ... as beef prices have gone up consumers have looked to alternatives like fish, chicken and pork. And, as the demand for those protein sources has increased - so have their prices.
 
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