Imported beef still leaves consumer prices only slightly lower

The government has imported thousands of pounds of beef, and the average price at 41 grocery stores across 22 states fell by $0.16 per pound, from $7.29 to $7.13.

The Farm Bureau Federation tracked the price change, noting that 30 of those stores saw no change.

Four meat packing companies control about 85% of the country’s beef processing, and none have commented on how the increase in foreign beef will be handled. Industry experts say the mix of imported and domestic beef may not bring much relief to consumers, with Farmer Jim Bourne noting that packers are likely to mix the imported beef with domestic supply, pocketing savings that may not be fully reflected in consumer prices.

Read the full story at scrippsnews.com.