Retail Livestock Product Prices

DR. ANDREW P. GRIFFITH

KNOXVILLE, TENNESSEE

The media (not agricultural specific media) is always good at being late to the party, but there has been considerable coverage of high retail beef prices and high retail table egg prices via local and national media sources in recent weeks and months. Given this media attention and the general failure to provide the whole story, it may be good to consider how several retail livestock product prices have changed over the past few years. The Bureau of Labor Statistics provides monthly retail prices of several products. These prices may not be exactly what an individual experienced, but the trend captured in this information will likely be consistent for most people’s experience.

Starting with beef since it was the first product to garner significant attention from media outlets. The latest data is from February 2025 so for simple comparison purposes, it would be appropriate to compare the most recent prices with prior February prices. There are numerous beef products that could be evaluated, but it would be easiest to just look at 100 percent ground beef and sirloin steaks. The February 2025 100% ground beef price ($5.625 per pound) was 9.6 percent higher than February a year ago and 17.7 percent higher than two years ago. This would also be an appropriate time to consider pre-coronavirus prices which would be a comparison to February 2020. Thus, 100% ground beef prices in February 2025 were 45.5 percent higher than five years ago when coronavirus was just being discussed nationally and internationally. Similarly, boneless sirloin steak prices in February 2025 ($11.899 per pound) were 1.6 percent higher than the previous year, 15.7 percent higher than February 2023, and 42.8 percent higher than five years ago.

Turning attention to pork products, sliced bacon prices in February 2025 ($6.798 per pound) were 3.6 percent higher than one year ago and 3.1 percent higher than two years ago. This compares to being 23.7 percent higher than February 2020. Boneless ham prices in February 2025 ($5.520 per pound) were 2.6 percent lower than the two previous Februarys and 30.6 percent higher than five years ago. Thus, at a simple glance, pork prices have not increased at the same rate as beef prices.

Fresh whole chicken prices in February 2025 ($2.051 per pound) were 5.1 percent higher than the previous year and 8.3 percent higher than two years ago. However, the price of fresh whole chickens increased 50.6 percent since February 2020, which eclipses the price increase of most beef products. It would also be appropriate to consider boneless chicken breast prices ($4.079 per pound) which are 0.6 percent lower than a year ago and 6.6 percent lower than two years ago. Again, the boneless chicken breast price is 35.4 percent higher than five years ago.

Table eggs have been the most talked about food product price as of late as many restaurants are including a surcharge for each egg ordered. Egg prices as of February 2025 were $5.897 per dozen, which is 96.8 percent higher than one year ago and 40.0 percent higher than two years ago. The real picture is seen in the change from February 2020 where prices today are 307.0 percent higher than five years ago. Thus, the market went from 12 cent eggs to nearly 50 cent eggs. Much of this is due to highly pathogenic avian influenza, which has wreaked havoc on table egg laying flocks. Lastly and certainly not least important is whole fresh milk. A price of a gallon of whole fresh milk in February 2025 ($4.026 per gallon) is 2.2 percent higher than a year ago, 3.3 percent lower than two years ago and 26.0 percent higher than five years ago.

The retail price of most livestock products has increased with table eggs and beef experiencing the largest percentage change the past several years. However, other meat and dairy product prices have been trending in a similar direction. The cost of food is on the rise, and consumers will have to navigate higher prices. At the same time, farmers and ranches continue to seek alternative production methods to lower cost of production.   ∆

DR. ANDREW P. GRIFFITH: University of Tennessee