$100 for a rib roast? Yep. Customers are forking out the cash and driving demand
CBC
A visit to the meat counter can sting these days, whether you're a shopper or rancher.
Consumers have watched prices soar, with the cost of a rib roast jumping to over $100. Meanwhile, ranchers struggled with sub-par cattle prices and rocketing costs.
That has many people wondering, what gives?
Dozens of people who texted CBC Calgary for our project on the cost of food said they struggle to buy meat.
"Are the increases in price due to a shortage, due to shipping, taxes and tariffs or are we just being gouged as Canadians?" said Calgary mom Shauna Ogston, voicing a shared frustration, especially from those dealing with four per cent inflation and no increase in wages or pension.
But in a world still swimming through the chop of a pandemic, the answer to why there's a disconnect between cattle and beef prices is complex.
There have been bottlenecks at processing plants, parched pasture lands, labour shortages and pandemic disruptions.
Still, when you boil it down, analysts say a big reason beef prices have been climbing is strong demand, and that customers — from stores to restaurants to overseas markets — have been willing to keep buying even as the price tag grows.
"The primary reason why beef prices are as high as they are is because of fantastic North American demand for beef," said Kevin Grier, a long-time livestock, meat and grocery market analyst.
"Prices are high, yes, but we are eating beef at these levels," he added.
But let's unpack this, beginning on the farm.
Rancher Melanie Wowk paused briefly during an interview last month to find the right word to express how much farm expenses have shot up this year.
"Astronomically," she said, "is the best word I can use to describe what's going on."
When shoppers see increased beef prices at the grocery store, some might think ranchers are rolling in dough, but that hasn't been the case.
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