January 6, 2015

Beef prices hit all-time high

By Michelle Linn
Owasso, Okla. —

People in Green Country and across the nation are enjoying low gas prices.

But, what you're saving on gas, you might be spending on groceries.

Beef prices are skyrocketing.

FOX23 found a package of ground beef selling for $5.60 per pound, and that's pretty standard.

This Consumer Price Index Chart, found on the Department of Labor website, shows beef prices went up every month in 2014, and FOX23 learned they are on track to continue climbing in 2015.

OSU livestock economist Dr. Derrell Peel.He says the U.S. cattle inventory is at its lowest level since 1951.

The industry is just starting to come back from three years of devastating drought.

Dr. Peel says many producers were forced to sell off cattle, when they could not afford to feed them, in 2011.

He says it will likely take years to recover.


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