Beef prices are setting records, even after adjusting for inflation. Experts predicts that prices will continue to rise next year, as well.
This year, beef prices rose 11 percent, on average, Nicholas Bergin reported for the Lincoln Journal Star. Prices have increased due to the decline in the U.S. cattle herd, which is at its lowest point since 1951. Price changes have been dramatic, for example, beef and veal prices increased by two percent from August to September.
Experts say that the price of beef will remain high until the U.S. sees more cattle. Although more cattle are expected next year, expansion won't be rapid. Some experts don't think that prices will change much until 2017, giving U.S. cattle producers a couple years to rebuild herds and get cattle numbers back up.