The average cost of a holiday cookout for ten people has increased by 4% to $73.82, according to Stew Leonard Jr., president and CEO of Stew Leonard's grocery stores. In an appearance on 'The Close,' he noted that while food prices are rising, the per-person expense still offers better value than eating out at restaurants. The main driver behind the price hike is the growing cost of beef, which has risen from $2.50 to $2.75 per unit. This shift stems from historically low cattle herd levels—reaching a 75-year minimum—combined with strong consumer demand for protein, putting pressure on supply chains and retail pricing.
Despite these challenges, Leonard emphasized that grocery shopping remains a more economical option compared to dining out. The combination of shrinking herds and consistent demand continues to influence meat prices across the market. Retailers are adapting to these conditions, but consumers face higher costs for staple ingredients like beef. These trends reflect broader economic pressures affecting food affordability during major holidays.