Beef Prices Hit Record High

What's Hot


How to Cut the Cable TV Cord in 2017Family

8 Major Freebies and Discounts You Get With Amazon PrimeSave

Study: People Who Curse Are More HonestFamily

8 Creative Ways to Clear ClutterAround The House

15 Things You Should Always Buy at a Dollar StoreMore

Pay $2 and Get Unlimited Wendy’s Frosty Treats in 2017Family

5 Reasons to Shop for a Home in DecemberFamily

This Free Software Brings Old Laptops Back to LifeMore

Should You Donate to Wreaths Across America? A Lesson in Charitable GivingAround The House

6 Reasons Why Savers Are Sexier Than SpendersCredit & Debt

Resolutions 2017: Save More Money Using 5 Simple TricksCredit & Debt

10 Free Things That Used to Cost MoneyAround The House

7 New Year’s Resolutions to Make With Your KidsFamily

10 Simple Money Moves to Make Before the New YearFamily

The 3 Golden Rules of Lending to Friends and FamilyBorrow

Years of drought and dwindling cattle herds have forced retail beef prices up, and there's no end in sight.

The price of your next burger may be hard to swallow. U.S. cattle herds have dropped to their lowest level in six decades, pushing retail beef prices to a record $5.04 a pound, according to the Texas Star-Telegram.

The Wall Street Journal reports that three years of persistent drought have ravaged rangelands in Texas, Kansas and other big cattle-producing states, increasing the cost of feed and forcing ranchers to reduce their herds. Beef prices have soared 13 percent over the last two years as cattle numbers dwindle and ranchers demand higher prices.

And we have’t seen the worst of it yet. MarketWatch says:

The USDA’s Economic Research Service projects that beef prices will rise faster than almost anything else this year. Don Close, a cattle economist with Rabo AgriFinance, says he thinks prices this year could rise 7 to 8 percent and roughly the same amount in 2015. Kevin Good, a senior analyst at cattle research firm CattleFax, says that “higher prices will continue through 2015 or 2016.”

Good said ranchers are rebuilding cattle herds, but it’s a slow process. Cows have a nine-month gestation, and calves are fed for 12 to 18 months before they are ready to be slaughtered.

Arnold Fernandez, a manager at Country Meat Market in Fort Worth, Texas, told the Star-Telegram that his customers are trying to cope with beef sticker shock, as per-pound prices have increased by 20 to 30 cents from last year. “A lot of people are buying in bulk to fill up their freezers because they know the price is going up,” he said.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: 10 Overlooked Expenses That Ruin Your Budget

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,829 more deals!