Industry Beef: Meat Prices Rise Due to Drought, Making Locally-Sourced Prices Seem Cheap
The drought that's parching the Midwest's corn fields is having an impact on the US meat market, with products like chicken, milk, peanuts, soybeans, eggs, and most prominently beef seeing hefty spikes in prices. As the cost of commodity meat continues to rise, it's possible that consumers' view of the cost of buying local might shift. Purchasing grass-fed protien at places like Lindy & Grundy, Huntingon's Meats, and Mc Call's Meat and Fish may not seem so expensive anymore.
"The price of ground beef could rise to about $2.88 per pound this year, a 4%jump from last year, when the average price per pound was $2.77, according to data from the U.S. Bureau of Labor Statistics and the U.S. Department of Agriculture. And if you want steak, get ready to pay 25 cents more per pound for sirloin, with the average price rising to $6.47... Corn prices have spiked 20% in the past month, while soybean prices have jumped 15%. Corn is used in animal feed so any shortage can quickly ripple down to the consumer. 'Field corn becomes feed, and as the price of feed goes up, the price of animals, and animal prices, all go up,' said USDA research economist Rick Volpe."