Expect to pay higher prices at the grocery store for beef. The market is seeing the highest prices since 1987 for beef, which is hurting restaurant owners and home cooks.
The rise is attributed to two reasons:
1 – Fewer cattle is on the market
2 – Rising demand that’s tightened the supply
In fact, these reasons have pushed the retail price to $5.28 a pound for fresh beef in February. This is 24 cents higher than the previous month.
The chances for prices to stay high the next few years are high because cattle producers must begin the process of rebuilding the herds. Producers in the Midwest and Southwest need rain to water the parched pastures.
Due to the rise in prices, more people are turning to pork and chicken. However, these prices are increasing too.
Several “mom and pop” or independent restaurant owners have increased their menu prices or made a change to smaller steaks to offset the costs.
One economics professors said chain restaurants can purchase in bulk to reduce their costs.
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I think the latest evidence shows most Americans could do with a whole lot less food (or perhaps more exercise) – myself not excluded. Perhaps I have an opportunity to cut 300 calories a day and keep my food bills steady. And better health as a result!
Thank God I live on beer and human flesh…LOL>>>>>>>>>>>>>>>
Glen,
your remarks are very sensible. Seeing positive side of a situation is so rare these days. Thsnks and keep it u;
abhi
I don’t eat meat