Meat Prices Still Climbing - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Meat Prices Still Climbing

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Jeff Forrester of a Dickey's Barbecue restaurant in Dallas, Texas sees a smoked beef brisket as a juicy investment. "That's brisket gold, is what that is." But it's costing him more. The drought in several states has led farmers to raise fewer animals. That coupled with a higher worldwide demand for meat is pushing up prices in the last year, pork chop prices have jumped 40%. The cost of rib eyes went up 10%. Even ground beef is up 5%.

Because of the higher costs, many restaurants may have to raise menu prices to stay profitable. "It's always something that we look at, but we don't want to burden our customers with any kind of price increase if we can help it."

But the rising cost of meat isn't only affecting restaurants. At the grocery store ground beef prices are at a record high and industry experts don't see a break anytime soon. "We expect meat prices to rise in the next few months especially with beef and pork," says Annemarie Kuhns, USDA Economist

Forrester believes it may take at least two years before beef prices come down. But some barbecue lovers like Gary Perdue…are willing to pay the extra cost. "It's just like a religious thing. You just have to do it (laughs)."
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