According to USDA livestock analyst Joel Greene, there is hope that consumers will see cheaper beef in the grocery store in 2008.
"We're heading into a situation this year where we have pretty good supplies of competing meats out there; pork and poultry as well as beef so that is going to have some depressing effect on prices," Greene says. "And there is probably more uncertainty on the economic front this year."
The average price for choice cuts of beef in 2007 was well above $4 at around $4.16 per pound. Greene says that the supplies of meat available will likely bring the average price for choice beef down a little bit, probably around three to five cents. So choice beef will still be more than $4 a pound, but it will be slightly lower than last year.