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Beef prices in the US continue to soar

  • The weird weather is resulting in an increase in beef prices in the US. It costed $5.28 a pound back in February but the price was $4.28 a year before that. Moreover, the same amount of beef costed only $3.97 in 2008. 

    Reports indicate that cattle production in the nation hasn't been this little since 1951 and human population wasn't as much back then. A USDA rep said these prices "should remain at near-record highs this year and into 2015."

    The Los Angeles Times notes that the prices are linked to drought and the issue is significant for small businesses. "You take all the McDonald's and Burger Kings across the United States; the amount of meat needed to make those hamburgers is forcing the value of other cuts of meat to go up," he said. 

    http://www.latimes.com/business/la-fi-beef-prices-20140406,0,2176545,full.story#axzz2yPE7KIPt

    Tagged as: beef prices US, us prices meat, usda beef prices, money news, business news