The price of a standard hamburger is expected to fall in 2016, thanks to a 10-year low for the price of fatty beef, the ground-up trimmings used to add essential fat to a burger. Beef trimmings currently range between $36 and $52 per 100 pounds, according to the latest USDA data.
The surplus of burger trimmings can be attributed to the cheap grain used by American farmers to feed their cattle in the last year, an analyst at Steiner Consulting Group told Bloomberg.
What’s more, the U.S. has experienced little interest from Japan this year, where imported cuts of fatty meat are usually highly sought after. Incidentally, Japan has also had to look for countries to export its high-quality seafood, as the domestic demand for fish has fallen while the country explores a taste for meat.
Further, Americans are eating fewer burgers than they have in the past, which means that your backyard barbecues will be cheaper this year, though it’s unclear whether the restaurant industry will adjust burger prices accordingly.