Last year's drought drives up beef prices

11/5/2013 | FoodBusinessNews.net (free registration)

The livestock industry is still feeling the effects of a 2012 drought, and tight cattle supplies have pushed beef prices to a record high. Production is declining as prices increase, and per-capita consumption is dropping, with the USDA predicting 54 pounds in 2014, down almost 5% compared with this year.

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