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Beef prices in U.S. supermarkets dropped in June–the fourth consecutive monthly decline–to their lowest level since the National Cattlemen’s Beef Association began a price survey in 1991. The average price of six cuts of beef in 19 cities fell to $2.93 a pound June 13 from $2.96 a pound May 9 and $3.17 a pound a year earlier. Burgeoning beef production and a rise in meat supplies are keeping pressure on retail beef prices.
