Analyst: Big Washout For Cattle, Hog Prices in 2017 in Stone
Retail prices for meat at the grocery counter have been seeing a slow, yet steady decline.
In Oct. 2015, pork prices were $3.97 per pound. Now, they're dropped 17 cents to $3.80. Beef prices have dropped a staggering 50 cents between $6.41 in May 2015 to $5.91 this month.
Some retailers are trying to trying to bring consumer interest to higher-value cuts by adding certain features.
According to Market Rally host Chip Flory, farmers are looking for incentive from the retail side for higher cattle and pork prices, but it takes a long time to trickle up for higher demand for cattle and hogs.
On Tuesday's show, Rich Nelson, chief strategist for Allendale, Inc., said the farmer share of the retail dollar has dropped, and live animals are undervalued.
Listen to the full segment above.
