Jul 15, 2009 5:59 pm US/Pacific
High-End Meats Priced To Sell In Bay Area
SAN FRANCISCO (CBS 5) ―
Consumers may be cutting back on luxuries in this recession except for good quality beef.
Despite tough economic times, the Golden Gate Meat Company has said that people are still craving their red meat, from dry aged steak to ground beef. What's has changed is where they are getting it and how much it costs.
Restaurants are selling less prime beef, the rich marbled high end rib eyes and filet mignon, so there is more of it available at lower prices at markets for home cooks.
"Consumers want good steak if they have to fix it themselves," said Skip Sullens of the Golden Gate Meat Company.
Consumers may notice the prime meat selling at high end markets is priced to move fast. For example, at Wholefood Market New York Strip is going for $10 a pound, which is 30% less than normal.
During this global recession, less prime beef is being exported, so there is a big supply for consumers like Chef Dontaye Ball, who is finding his favorite cuts at Costco.
"For someone like me, I'm a chef and I have a family, it's great," Dontaye Ball who cooks for Good Foods Inc said.
Costco's meat buyer said with a big beef glut the company is now securing more high end beef than ever before, so for Ball, it's prime time. He said that two years ago he was paying $13 a pound and now he's paying $8.
Golden Gate Meat Company said even though restaurants are ordering less prime meat. business is brisk because those same restaurants are getting creative with flank and always affordable ground beef.
Sullens said everyone always likes a good burger.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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