Price of Beef Expected to Rise

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    NEWSLETTERS

    Reuters reports beef prices could hit record highs this year. Expect prices to climb two to three percent.

    Some Texas ranchers have faced agricultural setbacks recently, which will cause the price of beef to rise in the coming weeks.

    The U.S. Department of Agriculture Economic Research Service released food price forecasts for 2014. The data forecasts that beef and veal prices are expected to increase 3 to 4 percent over 2013 levels - due to weather changes.

    The herd at Bonds Ranch has shrunk by a third over the past few years.

    “In the drought, you don’t have the green grass. When you don’t have the green grass, you can’t grow the cows. When you can’t grow the cows, you can’t have beef in the marketplace,” said Missy Bonds of Bonds Ranch.

    The problems on the fields are expected to hit grocery stores soon.

    “What you are seeing now is the domino effect of the reduction of cow numbers in 2011," Bonds said. "That is just now started to hit the marketplace.” 

    Ranchers faced several problems, according to Bonds. Besides the long drought, the price of corn increased as well.

    Cattle ranchers have had to make adjustments, which cost them too.

    Bonds Ranch had to bring in extra water.

    “We have to pay the same prices that you do at the grocery store,” Bonds said.

    So for now they wait, and hope for better weather.

    “It is mother nature. It has happened before, it will probably happen again,” said Bonds.