Beef Prices Hit High

Beef Prices Hit High

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If you have not bought beef lately you might have sticker shock the next time you go in to your local meat market.

Every Tuesday Randy Carson welcomes buyers and friends into the Abilene livestock auction.

Carson said droughts from the previous years have caused the Texas cattle herd to dwindle down. He said he has not seen numbers this low since the 1950's. Driving up prices to record highs.

"The prices right now are higher than I've ever seen them," said Carson.

He said the prices seem to go up every week. Experts agree, prices are up six percent from a year ago and a year before that there was a five percent increase.

Because the number of cattle is so low you might find the prices you pay at the grocery store are going up.

Another customer told me if prices keep rising his family might not be able to eat beef for a while.

Many experts believe that is what it will come down to.

According to the U.S. Department of Agriculture beef prices are only going to rise.

Experts said it will take a long time to rebuild herds and two to three years for consumers to see a drop in prices.

Experts said you can count on seeing a six to eight percent price increase in the following months. They said you'll probably see the same trend in 2015.

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