Beef prices reach highest level since 1987 - WAOW - Newsline 9, Wausau News, Weather, Sports

Beef prices reach highest level since 1987

Posted:
LUBBOCK, Texas (AP) - The highest beef prices since 1987 are hitting the pocketbooks of home cooks and restaurant owners.

A dwindling number of cattle and growing export demand have tightened the supply and caused the average retail cost of fresh beef to climb to $5.28 a pound in February -- 24 cents higher than January.

Prices likely will stay high for a couple of years as cattle producers start to rebuild their herds. Those in the in the Southwest and Midwest will need enough rain to replenish parched pastures.

Some shoppers are turning to chicken or pork, though those prices are on the rise as well.

Some independent restaurants have hiked their menu prices or switched to smaller steaks. An economics professor says chain restaurants combat the price spike by buying in bulk.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WAOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Chief Engineer Russ Crass at 715-842-2251. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.