Retail beef prices reach record highs Beef prices have risen 21% over last year
In this Tuesday, June 15, 2021 photograph, beef is displayed in the meat department at Lambert's Rainbow Market, in Westwood, Mass. Prices at the wholesale level surged by a record 9.6% in November 2021, from a year earlier, an indication of on-going inflation pressures The Labor Department said that its producer price index, which measures inflation before it reaches consumer, rose 0.8% in November compared to October, the highest monthly reading since June.(AP Photo/Charles Krupa) (Charles Krupa, Copyright 2021 The Associated Press. All rights reserved.)
Customers are now paying more than ever for beef.
Retail beef prices are at record highs, rising 21% over the last year.
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It comes even as ranchers have been making less money for their cattle.
Experts say the issue of lower cattle prices has a lot to do with the fact that there are more cattle to process than space to process them. But, they say things are changing.
The next couple of years are expected to look good for cattle producers, and that’s one of the reasons that beef is in high demand.
Dozens of meat processing facilities have opened in Montana in the last year and half, with more on the way.
Copyright 2021 by CNN Newsource - All rights reserved.
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