Why did the price of beef jerky go up?

Beef jerky sales are tumbling as consumers struggle to fill their gas tanks, according to a Wall Street analyst.

Convenience stores are the canary in the coal mine when it comes to salty and sweet snack sales including beef jerky brands like Slim Jim Bacon Jerky, because as fuel prices rise, Americans are less likely to hit the highway and make pit stops at convenience stores along the way.

“Rising gasoline prices appear to be weighing on packaged snack food sales in the [convenience] store channel,” wrote Goldman Sachs analyst Bonnie Herzog in a research note this week.

“This is evidenced by the slowing volume trend seen across most major snack food categories and outright volume declines for single-serve chocolate and jerky meat.”

As the busy summer travel season approaches and gas prices remain on average at $4-plus a gallon, fewer people are expected to venture out on vacation, experts say. 

Even as gas prices have come down in recent weeks, paying more than $4 per gallon is straining low-income consumer budgets.

What’s more, there are already signs that “gasoline demand and miles driven data have moved lower in recent weeks,” Herzog wrote.

About 83% of convenience stores purchases are for impulse buys, which are typically the first thing to go when inflation increases, according to the trade group the Association for Convenience and Fuel Retailing.

“Anytime you sell immediate consumption and people’s pocketbooks are pinched, you could lose sales,” Jeff Lenard, vice president of strategic industry initiatives at the National Association of Convenience Stores, told CNN, which first reported on the snack sales decline.

Low-income consumers are on track to deplete their savings built up during COVID due to overall inflation — which reached 8.5% in March. 

The average US household spent an extra $327 in March due to inflation, according to Ryan Sweet, a senior economist at Moody’s Analytics. That’s up from roughly $297 per household in February, when the Consumer Price Index jumped 7.9%.

And that means less to spend on discretionary items like snacks at the gas station.

“We believe it is prudent to expect volume trends in [convenience stores] to erode further as pent-up savings during COVID are depleted, tax returns fade away, inflation pressure broadly continues to mount and gas prices remain relatively high through the key driving season,” Herzog wrote.

Consuming beef jerky can be an expensive habit (click here for why). This article reviews 15 trending beef jerky products to determine the average price of beef jerky per ounce. After fully reading this article, you’ll be able to make a more informed consumer purchase the next time you see jerky on sale.

So what is the average price of beef jerky? Based on the top 15 beef jerky trending brands on Amazon, the average cost as of March 2019 for an ounce of beef jerky was $2.08.

Now Let’s Break It up According to Quality

For further consideration, we’ll split the list (which appears below) roughly in half, separating them by price.

We’ll create two categories — “high-end” and “low-end.”

We’ll see how the average price changes when we separate the products.

Average Price of High-End Beef Jerky

When we take the seven most expensive brands on our list and average their cost per ounce, we get an average price of $2.90.

Average Price of Low-End Beef Jerky

When we do the same for the eight least expensive brands, we get an average figure of $1.31 per ounce.

The Take-Away: Low-End vs. High-End Beef Jerky

This data indicates that you can save significant money — more than 50% — by avoiding the supposed higher-end beef jerky brands.

Comparing Prices for 15 Popular Beef Jerky Brands

#1 – Jack Link’s Bold Cracked Pepper Beef Jerky

Total beef jerky: 19.5 ounces
Price per ounce: $1.79 (Price as of March 2019)

This is a heavily peppered variety, which is sold here in a value pack. For about $35, you get six packages containing 3.25 ounces each. This means you’re paying $1.79 per ounce.

#2 – Jack Link’s Original Beef Jerky

CHEAPEST PER OUNCE OF THE 15 PRODUCTS REVIEWED.

Sale

Total beef jerky: 16 ounces
Price per ounce: .90 cents (Price as of March 2019)

#3 – Cattleman’s Cut Original Beef Jerky

Total beef jerky: 10 ounces
Price per ounce: $1.22 (Price as of March 2019)

Cattleman’s cut is another well-regarded and commonly available brand. This one is not fancy, like our previous choice. It’s great for those who just want plain beef and nothing else.

#4 – Tillamook Country Smoker Beef Jerky

Total beef jerky: 10 ounces
Price per ounce: $1.40 (Price as of March 2019)

The best thing about this jerky is that it has no preservatives or unnatural ingredients. This makes it more like homemade jerky, but with a longer shelf life.

#5 – Hard Times Beef Jerky

Sale

Total beef jerky: 8 ounces
Price per ounce: $2.74 (Price as of March 2019)

As the name implies, this brand is meant for long-term storage. It comes in an 8-ounce resealable jar, which is bound to increase its shelf life. I can see how this brand might be a good thing to put into a backpack for a long hike.

#6 – People’s Choice Beef Jerky

Total beef jerky: 7.5 ounces
Price per ounce: $2.50 (Price as of March 2019)

This one is meant to be a healthier choice. It has no sugar, no carbs, no gluten, and nothing unnatural at all.

#7 – Ayoba-Yo Biltong

MOST EXPENSIVE PER OUNCE OF THE 15 PRODUCTS REVIEWED.

Total beef jerky: 2 ounces
Price per ounce: $4.27 (Price as of March 2019)

Biltong is a traditional African style of beef jerky. Instead of being dried in an oven, biltong is air-dried for 14 days. Obviously, the hot climate of Africa aids the process considerably. This brand is made from only grass-fed beef so it’s entirely natural.

#8 – Righteous Felon Beef Jerky Bundle

Total beef jerky: 8 ounces
Price per ounce: $3.32 (Price as of March 2019)

This brand has an edgy name and a cartoonish label. The different sub-types have cool names like “Habanero Escobar” and “Chipotle Guevara.”

#9 – “Creeping Ghost” Carolina Reaper Beef Jerky

Total beef jerky: 3 ounces
Price per ounce: $3.26 (Price as of March 2019)

This is some of the hottest beef jerky you could ever want, as it is made with ghost peppers. If you like serious heat with a little sweetness, this is a good one. Just be aware that the ghost pepper is considered by many to be the world’s hottest pepper.

#10 – Stryve Beef Biltong

Total beef jerky: 10 ounces
Price per ounce: $1.40 (Price as of March 2019)

This is another example of African-style beef jerky, which is softer than oven-dried jerky. Thankfully, this one is a little cheaper.

#11 – Chef’s Cut Original Recipe

Total beef jerky: 14 ounces
Price per ounce: $1.42 (Price as of March 2019)

#12 – Buffalo Bills Premium Hickory Beef Jerky

Total beef jerky: 16 ounces
Price per ounce: $2.06 (Price as of March 2019)

If you like that old-school hickory taste, this jerky delivers, and its price isn’t too bad. And it’s made from very lean meat.

#13 – Country Archer Original Recipe

Total beef jerky: 16 ounces
Price per ounce: $1.39 (Price as of March 2019)

This is great hiking fuel and provides energy as a priority; it’s also well-seasoned.

#14 – Oberto All-Natural Original Beef Jerky

Total beef jerky: 18 ounces
Price per ounce: .99 cents (Price as of March 2019)

When they say “all-natural,” what they mean is that this jerky is just meat and nothing else. This can be very good if you’re using the jerky as travel food because plain meat goes with anything.

#15 – Mingua Beef Jerky

Total beef jerky: 7 ounces
Price per ounce: $2.56 per ounce (Price as of March 2019)

This is some of the softest and most flavorful beef jerky around. It’s a little expensive but well worth it in terms of quality.

When we take all 15 products and average them, we get $2.08 per ounce. Considering how little an ounce of beef jerky is, we’re looking at a somewhat expensive food.

Conclusion

Those of us who like beef jerky can take solace that there are cheap ways to feed your meat tooth. When you consider the cost of beef, the cost of jerky seems quite reasonable.

It should be noted that beef jerky prices have been on the rise recently due to increases in the costs of production, which are largely the result of changing regulations in farming practices, rises in the costs of beef, and inflation. These prices could change a lot in the coming years.

Since beef jerky can last a few years in storage, perhaps now is the time to stock up on the good stuff.

If you’re interested in a better perspective on the differences in cost between store-bought and homemade beef jerky, watch the below video.

How much are you paying on average for an ounce of beef jerky? Are you paying less or more than what we’ve cited above? Please share in the comments below.

We'll introduce you to some of the most delicious, off the beaten path jerky makers around!
Because the Best Jerky Doesn't Come from a Store

QUOTE: "You might be a redneck if you think that beef jerky and moon pies are two of the major food groups."

-- Jeff Foxworthy