Beef prices are at a record high, passing six-dollars a pound for the first time since records started being kept in the 1980s. There are a few things to blame for the surge, including drought that’s made cattle feed more expensive. That’s led ranchers to send more cattle to the slaughterhouse to try and make up the difference, which in turn squeezes supply. The number of beef cattle in the U.S. is at its lowest since 1961, according to the Department of Agriculture. The USDA has also halted imports of cattle from Mexico over concerns about a parasitic fly. President Trump’s 50-percent tariffs on Brazil set to start next month could drive up prices even more, as the South American country is a major supplier.
***Courtesy of Total Traffic News***
