Agricultural experts say high beef prices are here to stay for a while as recent drought conditions in Texas and around the country have reduced the nation's cattle supply to its lowest numbers in more than 50 years.
The Lubbock Avalanche-Journal reports choice beef retail prices averaged about $6.31 per pound in December. According to the United States Department of Agriculture, that is up 0.1 percent from November's previous record high and 17.7 percent higher than a year ago
Texas Farm Bureau spokesman Gene Hall says beef prices should start going down eventually, as ranchers recover from selling much of their herds during the height of the drought.
While prices are up, Jason Slane, Texas Cattle Feeders Association market analyst, says demand for beef is at an all-time high.
