Sort & Cull

If you were planning a Memorial Day picnic strictly based on a shoestring budget, chances are the steaks commandeering your holiday grill will be more "tube" than sirloin. At least, that's the sobering implication of the new set of meat spread data just released by the USDA.

The average retail price of choice beef in April was $6.402, nearly a dime higher than March, 9% greater than the early spring of 2014, and the highest in the record book. Although the average price of all beef last month actually declined somewhat from the March record (i.e., from $6.061 to $6.054), it still towered 10.4% above the prior year.

Looking at individual cuts, the caviar pricing seems to run through the entire complex. Lean and extra lean ground beef averaged $6.105, down from a record high of $6.184 in February, but still 12.6% above April 2014. Ground beef in general averaged $4.231, essentially matching the all-time high set two months before yet surpassing last year by 11.1%.

Boneless choice sirloin steaks averaged $8.329 in April, off a short nickel from the record established in March but still greater than 2014.

On the other hand, the pork side of the meat case looks considerably more affordable. The average retail price of pork in April was $3.769, significantly lower for the seventh consecutive month (i.e., 44.8 cents below the record high set last September). Compared with April of 2014, this total is 4.6% lower.

Boneless chop last month averaged $4.227, 3.1% cheaper than the previous year. At the same time, sliced bacon averaged $5.211, more than 80 cents below the hottest demand of last summer and 8.4% south of 2014.

Higher chicken prices could also benefit pork clearance in the weekend ahead. The retail broiler composite in April averaged $1.997, 1.1% greater than the year before. Boneless chicken breasts last month averaged $3.504, 3.3% greater than 2014. Bone-in chicken legs averaged $1.609, as much as 4.6% higher than April 2014.

Of course, the good folks on the beef and chicken boards will be quick to point out that there's more in planning a successful Memorial Day event than the cheapest food budget. What about things like tradition, hearty appetite, and the American way?

That may be all well and good. But if the weekend turns out be to on the cool and damp side, budget-busting meat over struggling charcoal could be a real party-pooper.

I'm just saying.

For more of John's commentary, visit http://feelofthemarket.com/…

(AG)

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