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Beef Prices Rising

Beef Prices Rising

Beef. It’s what’s for dinner. But it’s also costing you more than it ever has before.

The price for a pound of ground beef is now $3.61. That's up 12 cents from October and $1.12 from ten years ago. Russell Woodward of the Texas Beef Council explains why that’s the case.

“What we have here is the fundamental principles of supply and demand,” Woodward told KTRH.

Woodward also says the time of year is playing into the higher price.

“The holiday factor has kicked in. Prices tend to increase in the latter part of the year,” Woodward said.

But Woodward says there's good news coming.

“Long term, as we increase production, those prices should stabilize in about two or three years,” Woodward stated.

That is, if Mother Nature cooperates and we have more rain next year. But even if it doesn’t Woodward says you shouldn’t just let the cost of beef determine if you buy it or not.

“It’s still very affordable. And it provides your family the nutrients they need,” Woodward explained.

 

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