Fourth of July Cookout Costs Rise 4% Says Stew Leonard's CEO

Stew Leonard Jr., President and CEO of Stew Leonard's grocery stores, said the average cost of a Fourth of July meal for 10 people rose 4% to $73.82. He attributed the increase primarily to beef prices, which rose from $2.50 to $2.75 per pound. Leonard cited a 75-year low in cattle herd sizes and strong demand for protein as factors in the meat price increase. He made the comments during an appearance on Bloomberg's "The Close."

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