'Beyond Meat announced it\'s launching a limited edition value pack called the \"Cookout Classic.\" CNBC\'s Aditi Roy reports. Beyond Meat announced Wednesday that it will sell value packs of its meatless burgers — just in time for summer barbecue season. The 10-pack has a suggested retail price of $15.99, or $6.40 per pound, bringing it closer to the price of traditional beef. Beef patties were selling for $5.26 per pound this week, according to the U.S. Department of Agriculture’s report on advertised beef prices. Beyond’s value packs will go on sale the week of June 22 at Walmart, Target and other select retailers across the U.S. But the new offering will only be available until mid-August, or until supplies last. The coronavirus pandemic has pushed many consumers to buy meat alternatives. More consumers are cooking at home rather than eating at restaurants, and outbreaks have hit the meatpacking industry and hurt production. Sales of fresh meat alternatives soared 168.5% in the week ended June 6 compared to the year-ago period, according to Nielsen data. Shares of Beyond, which has a market value of $9.46 billion, have doubled their value so far in 2020, as of Tuesday’s close. The stock was up about 3% in premarket trading on Wednesday. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2JdMwO7 » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC #CNBC TV'
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