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Results: Beef Prices Hit Highest Level Since 1987

Published on 04/14/2014
By: Tellwut
3374
Food & Drink
A dwindling number of cattle and growing export demand from countries such as China and Japan have caused the average retail cost of fresh beef to climb to $5.28 a pound in February, up almost a quarter from January and the highest price since 1987. Everything that's produced is being consumed, said Kevin Good, an analyst at CattleFax, a Colorado-based information group. And prices likely will stay high for a couple of years as cattle producers start to rebuild their herds amid big questions about whether the Southwest and parts of the Midwest will see enough rain to replenish pastures.
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Do you regularly buy beef products?
Do you regularly buy beef products?
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Have you noticed the beef prices rising?
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Mark Hutchens, owner of the 50 Yard Line Steakhouse in Lubbock, raised his menu prices for beef items by about 5 percent in November. Have you noticed beef prices rising in restaurants?
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White-tablecloth restaurants have adjusted the size of their steaks, making them thinner to offset the price increases, says Jim Robb, director of the Colorado-based Livestock Marketing Information Center. Have you noticed smaller steaks at restaurants?
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Do you think less beef products should be shipped to other countries so the consumer pays a lower price domestically?
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