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U.S. residents to have beef with beef prices

U.S. Residents to Have Beef with Beef Prices
In the upcoming months, some people might have a beef with beef prices.

'Ground beef is now selling for about $3.50 a pound and prices could rise another 15% in the coming months,' 'GMA' explains.

With the increasing cost of beef, restaurants might even need to rethink their menu items.

USA TODAY reports the price of beef has been rising since 2007 at an average rate of about $1/pound. The cost of cattle has also risen.

'The sky high beef prices are being blamed on ranchers raising fewer herds of cattle, particularly on areas experiencing a drought,' 'Today' reports.

Now, the U.S. cattle herd is the smallest it's been in 60 years. Marketwatch says that according to one poll, 'U.S. consumer demand for beef has been declining - 39% of Americans say they eat less beef now than they did three years ago, compared with just 6% who say they eat more.'

But for those of you who often crave a delicious burger, we've got some good news: cattle herds ARE beginning to increase.

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dahaub February 24 2014 at 6:54 AM

When our government lets 40 % of the corn crop go to make ethanol and then exports a large % of the rest of the crop when 85% of the crop used to be animal food what do we expect? The prices of pork, beef and chicken has risen in a direct proportion to the percentage of corn that is available for feeding those animals. The corn lobby includes all those involved in growing the crop and they have a lot of leverage. They are all chasing the almighty dollar. They don't care about the consumer one little bit. That is capitalism all the way. Just saying.

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nikkitytom February 24 2014 at 4:44 AM

So .... prices go up. Look at the price of your grocery basket ten years ago and look at it now. Prices increase. And if there's a drought and less cattle being raised the prices wil go up.

I haven't had a nice tender piece of beef in years. It's tough, no matter what cut you purchase. I switched to ground beef because I got tired of chewing tough steaks. An occasional hamburger won't break the bank. Chicken is always reliable ... and a nice pork chop perfectly cooked can't be beat.

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beehappy898 February 24 2014 at 3:10 AM

I have not eaten beef in 30 years...Let it go up.......If people stop eating so much,If you cut your intake by 1/2 the prices will go way down

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jrp1947 February 24 2014 at 1:05 AM

If people get used to eating something else and making do with less beef then cattle ranchers are going to be in the unemployment lines. The rancher does not make the money but the wholesaler does and you need to have them out of the business. They own Congress not the rancher. When you do not like the prices look to the wholesaler not the grower.

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klyons370 February 24 2014 at 12:49 AM

If the demand for beef has been going down by 39% please tell me again why beef prices are going up. By the way, ranchers don't water cattle by using lakes, etc. they use well water. I think ranchers just want more profit. I hope beef consumption goes down by another 39%.

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rwgebo1889 February 23 2014 at 11:01 PM

Obamaflation

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beehappy898 February 24 2014 at 3:13 AM

This has nothing to do with Obama nor the farmers .It is the greedy middlemen.

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ogates1 February 23 2014 at 10:57 PM

I don't eat cow but produce will soar because of drought--we will all pay more!

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taylorgangten February 23 2014 at 11:23 PM

All wrong. From beef to seafood and all other commodity's and other raw supplies just look to China. They are starting to gain a middle class and economic power that we enjoyed for many years. Industrial revolution will do that for you. When we stop sending jobs and buying so much from these country's we my slow it down.

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darlingtonnative February 24 2014 at 12:23 AM

That is part of the problem but drought has caused many famines around the world over time and it is likely to be a problem in the future. So is GMO crops which wipe out everything around them in addition to cause a myriad of health in man and animals. I mentioned in a long piece earlier in the day that about a drug that is banned in 160 nations but used in the USA to make bigger cattle and turkeys so they are more profitable. No safe enough for most of the world but good enough for Americans. To long to go into here but you can scad down to my long piece. You can count on the price of food more than doubling. How much more I don't know. It could triple. In fact Chapter Four of my last book was entitled "Gasoline or milk, $10 per Gallon" and I had a chapter on famine too.
The book was mainly about the economy and why we are making such serious mistakes and why we are destroying the dollar and the economy. China's middle class is already as big as our entire country. I mentioned a jewelry store in a huge mall in China that had a platinum rose for sale for Valentine's Day and this was a few years ago. It was $24,999.00 in U.S. dollars. I believe there will be food shortages here due to drought, the value of the dollar dropping, and actual shortages of some things in this country and if we stay on our current path there will be less benefits and fewer jobs. The eventual earthquake in Los Angeles will affect food prices too. Some are talking hyperinflation but I don't think the average American is as stupid as the politicians think we are. We shall find out in 8 months or so. Learn all you can about GMO foods as the average American is eating 192 pounds of it a years and we are the only human test that has ever been done with it and it doesn't look good so far (40% increase in I.B.S., 500% increase in Alzheimer's Disease, and Autism and Infertiity off the chart all since glyphosate resistant genetically engineered foods flooded our markets some 20 years ago. Learn all you can and the life you save may be your own.

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pam81953 February 23 2014 at 10:56 PM

Here's my 2 cents on the matter. I feel the reason the prices are starting to go up again is cause there's a chance mim wage will go up. I've observed over the years when ever we get an increase. retailers start raising their price even before it happens. It' like we can't get ahead .

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Ed February 24 2014 at 12:09 AM

excellent analyst, I have not heard that from the talking heads on radio and tv.

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Larry February 23 2014 at 10:56 PM

Gas? gotta pay goldman sachs their cut…….beef, cut the amount and the price will rise……….market manipulation

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Your Highness February 23 2014 at 10:54 PM

Eat more deer.

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