Increasing Beef Prices
U.S. -- Due to the smallest cow herd numbers since 1950, beef prices across the nation are rising, forcing restaurants, stores and consumers to adjust.
According to statistics with the U.S. Department of Agriculture, the retail price of ground beef -- which was $3.31 per pound last May, is now $3.85 per pound.
Chad Carr with the Department of Animal Sciences at UF says anyone associated with the retail sales of animal protein feels the effect of these soaring beef prices.
He calls it a supply and demand phenomenon.
Wards meat department employees say beef sales have been down for sure because of the higher prices.
Meat department manager Bryan Ward says they’ve tried to cut down on the size of the packaging meet.
The historically low U.S. cow herds are low because of drought conditions in the Midwest.
Experts say it'll take several years before we see a relief in beef prices.
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