Big Cut In U.S. Beef Prices
(N.Z. Press Association—Copyright) (Rec. 10 p.m.) NEW YORK, January 22. Two of the leading grocery chainstores in the United States will cut beef prices this week to about the level common in the depression era of the 1930’5. The Grand Union Company, which has supermarkets—low profit margin, self-service shops—in most parts of the country, will charge 25 cents per lb for choice grade steaks, according to advertisements prepared for tomorrow’s newspapers. The Atlantic and Pacific Company, biggest supermarket chain in the nation, will advertise choice chuck steaks at 29 cents per lb. Other supermarkets are expected to meet the competition by cutting their prices. Marketing experts said the cut in beef prices resulted from a sharp drop in the price of pork, which led housewives to favour this meat and to reduce other sales.
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Press, Volume XCIII, Issue 27874, 24 January 1956, Page 11
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140Big Cut In U.S. Beef Prices Press, Volume XCIII, Issue 27874, 24 January 1956, Page 11
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