Beef prices could be lowest in 3 summers

MINNEAPOLIS - Beef prices are lower, just in time for the summer grilling season.

The Bureau of Labor Statistics reports the average price of beef this month is $3.60 per pound. That's 36 cents lower when compared to April 2016 and 60 cents lower when compared to April 2015.

The Star Tribune reports the drop in price can be attributed to a boom in beef production. Ground beef in grocery stores has dropped about 9 percent from a year ago with steaks down 6.5 percent.

Retailers and restaurants are also loading up on beef supplies, which could mean summer promotions for consumers.

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