Tuesday, January 31, 2012

Beef Prices Going Up Again This Year

Beef prices, already at near-record-high prices, are expected to be driven up for the second year in a row this year because of a limited supply of cattle.
There were about 91 million head of cattle in the United States as of Jan. 1, according to the U.S. Department of Agriculture. That’s down 2 percent from a year ago — and the lowest level since 1952. Retail beef prices, now near record levels, will likely rise 4 percent to 5 percent this year following a 10 percent increase in 2011, the Agriculture Department predicts.   LINK...