Beef Prices Set New Record, Driving Food Inflation Higher
Beef prices are setting fresh records and show no signs of slowing.Retail ground beef prices in November rose 2% from September to $6.78 a pound, according to federal data. Beef prices overall were 16% higher than a year ago.Prices have been on a steady climb for years after ranchers decided to thin their cattle herds following years of weakening financial conditions. The U.S. now has the fewest cattle on its pastures since the 1950s, while demand for protein is accelerating...
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