In the past few years we have seen some dramatic increases in the price of meat. This is a general statement that most consumers would agree with, but it is a generalization with a lot of exceptions and misconceptions. Let’s look at some wholesale market prices year to year. These prices are listed on the USDA market news as well as other financial reporting sites. My research is pretty basic and some numbers could be off slightly but it gives you an idea of where the markets are trending.
Choice Beef
Last year This year
Bone in Rib Eye $9.90 $8.45
Boneless Rib $11.07 $9.63
Brisket $3.74 $3.55
Striploin B/in $6.83 $6.68
Tri tip $5.84 $4.10
Outside skirt $11.90 Basically unchanged
Other cuts have gone up slightly but basically beef prices are down from last year
Chicken whole $1.38 $1.34
Chicken in 2021 was $2.37
Pork
1/4” trim butts $1.31 $1.39
B/o pork loin $1.55 $1.45
Belly $2.74 $1.65
Pork and chicken remain very low priced at the wholesale level.
So looking at this why are prices of certain meat cuts so high in the supermarkets? Yes there are increases in trucking costs, packaging etc but some prices maintain a very high price tag, even as wholesale prices come down. Why? Because they continue to sell. It’s pretty basic capitalism, if the price goes up and people still buy it then the price is not going to go down. Some companies have made record profits in the past few years, plain and simple.
The same goes for foodservice. If a chef insists on using overpriced items and complains but doesn’t shop around or substitute with other cuts, then the purveyor will keep the prices high. Then the restaurant simply charges more and if the diner is willing to pay, who cares? But an aware purchaser can work around high prices to keep menu prices level or increase profit margins. I’ve seen prices fluctuate dramatically between different purveyors. Now it is important to examine less expensive cuts to be sure they are an acceptable quality or that trim levels are similar but sticking with a particular brand may lead to overpriced items. You can call it cutting corners but if the overall quality is the same then it’s just being frugal. You can also create cuts in house by buying larger cuts and fabricating them yourself. Some require the kitchen to use the byproduct trim but not anything difficult.
Here are some examples;
Chef x sells pork collar. They buy it at $8.50 lb from a specialty purveyor.
Chef y sells pork collar and homemade sausage. They buy specialty whole Boston butts for $4.25 lb.
Chef a sells pork collar and pork sliders. They buy standard commercial Boston butts from the warehouse store for $1.95 lb.
Each chef is choosing a purchase that fits their menu but they are all selling a pork collar roast which is very simply removed from the whole pork Boston butt.
Recently I saw boneless duck breast for about $12 lb. The whole duck from the same brand was about $3.20 lb. It takes me less than two minutes to take off the legs and bone and trim the breast. Basically I get the legs, bones, giblets, fat for a super cheap price. I’ve seen the same thing for Frenched chicken breast pork racks and many more. Some basic knife skills and menu expansions can dramatically increase profits.
Ok so the news is inflation is out of control. Or maybe our purchasing is a little out of control be smart and make more cash!
