Why beef prices on P.E.I. could be down in the new year
The price of beef is expected to go down in the new year as the industry manages increased supply and lower demand from consumers, says a processor on P.E.I.
CBC News
“There’s too much beef and not enough cattle around right now,” said Russ Mallard, president of Atlantic Beef Products in Albany, P.E.I.
Mallard said the “significant downward pressure” on the price of beef should lead to lower prices early in the new year, when consumers are generally more strapped for cash.
Retailers will look at whatever can give them the best profit margin and will advertise those products accordingly, he said.
“There’s too much beef and not enough cattle around right now”
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