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Beef prices on the rise due to feed costs and cold weather
Your t-bone steak could cost you more over the next few months, because beef prices are getting a bump.
The cold weather is partly to blame.
Jim Carmack/Channel 3 News
"The recent cold snap across much of the country will be felt here along the Gulf Coast as well. Not just because of the weather, but because the price of beef is expected to go up."
We typically talk about freezing weather affecting produce prices. But this year, it's beef that could be feeing the chill.
David Apple/Apple Market
"Beef prices in particular are suffering for several reasons. Not the least of which is the recent freeze."
David Apple says in addition to the cold, the cattle supply is lower now because of the high prices for corn feed a few years back. Many ranchers sold some of their herds and now have to build them back up.
"A short supply in addition to the cold weather challenges that the ranchers are facing trying to get their beef to market is affecting beef prices and will most certainly affect them at least in the near short term."
And that means more money out of your wallet, if you choose to buy the beef.
Rick Bailey/Might switch
"I think I'll be eating a lot of chicken. (laugh)"
If consumers switch to chicken or pork, higher prices might not last as long.
Debbie Chapman/Will pay for beef
"But I'm a Kentucky girl so I like my beef."
"I'll still be buying meat."
Supply versus demand, like a run on chicken wings before the big game...
"Chicken wings right now are in somewhat short supply believe it or not because of the demand going up and so the price of chicken wings is going to go up between now and the Super Bowl. Of course right after that time the demand will probably go back down. And I think you'll see the same fluctuation with the beef market.