Record Ground Beef Prices May Finally Be Breaking Consumer Demand

Record Ground Beef Prices May Finally Be Breaking Consumer Demand Last week's retail sales report provided fresh evidence that the K-shaped economy is buckling, with national average gasoline prices still printing above $4 a gallon and discretionary spending weakening. Consumer stress is now surfacing in the grocery aisle: as beef prices hover near record highs, Americans are beginning to trade down to cheaper proteins. Bloomberg cites new data from Chicago-based market research company Circana, showing that beef sales volumes declined .3% during the 13 weeks through mid-July. Volumes had risen about...