Brief Respite Predicted For Beef Price Increase
While analysts predict we'll feel the major effects of drought on food prices next year, they say there may be a surprise effect in 2012.
U.S.D.A. Food Price Analyst, Ricky Volpe, says because pastures have been wiped out and feed prices are going up, cattle producers are sending cows to market early, which means, "we are revising our 2012 forecast for beef and veal downward."
Volpe says with a temporary glut of beef on the market anticipated price increases should actually slow through the rest of the year.