Grocery Store Beef Prices Will Remain High
COLUMBIA, MO - Lean ground beef is selling for more than $5 a pound in the grocery store, and an agricultural economist expects beef prices to continue high for the foreseeable future. Ron Plain from the University of Missouri says live cattle prices hit $130 per hundredweight in October, topped $140 in January and were above $150 in February. He says those prices were enough to interest cattlemen in expanding their herds, but that means they are saving heifers and cows and driving beef prices even higher. Plain says that, because expanding cattle numbers is such a slow process, he expects live cattle prices and beef prices at the grocery store to remain high.