Flash Flood Warning expires at 10:30 PM on 7/23, issued at 7:45 PM Bethany, KY | Campton, KY | Cannel City, KY | Crockett, KY

Meat Prices Beefing Up

Reported by: Melanie Kendall
Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 1/13 11:37 pm

Beef is a big business in Kentucky.  The Commonwealth is the biggest beef producer, east of the Mississippi River.  If it’s on your shopping list, get ready to spend more for it.

More than 2,300 cattle were up for auction at the Blue Grass Stockyards on Monday.  They’re being sold are record-high prices.

“The high prices just reflect the high demand we have for our product,” said Jeremy Wiles with Eugene Barber & Sons.

“Basically we're setting new records every day right now,” said Jim Akers, COO for the Blue Grass Stockyards.

Akers says drought out West and last year’s high grain costs have sent the number of cattle in the US to its lowest level since 1953.  Now supply and demand is causing cattle prices to increase. 

He says prices started going up in the fall and now is trickling down to the consumer which means beef will cost more at the grocery store and restaurants.

“There's not going to be some dramatic, next week I go to the grocery store and meat is twice as expensive,” said Akers.  “It's not going to be like that.”

The USDA expects choice-beef prices to be 2.5-3.5% higher than last year.  Akers expects prices to keep going up until the cattle supply can catch up with demand.

“We deal with a very slow biological process and it will take several years to build those numbers back up to where it will stabilize,” said Akers.

Share
Most Popular
Postal Facility In Lexington Scheduled To Be Closed In 2015
The U.S. Postal Service's processing and distribution center on Nandino Boulevard in Lexington is scheduled to be closed next year to save money, according to the USPS Website. Video Video
Interstate closes after bee-carrying truck crashes
Police say a semi flat-bed truck hauling beehives has crashed, causing eastbound Interstate 24 to close near the Kentucky-Tennessee state line at Clarksville, Tennessee.
Lincoln County Woman Abducted; Held For Ransom
Stanford Police are looking for a suspect who abducted a woman at gun point, and held her for ransom Video Video
2014 36 Blitz: Mason Co. Royals
A look at tradition in Maysville and what it means to this season's team. Video Video
Identity Theft Suspect Identified
Nicholasville Police are positive they have a suspect identified who is wanted in a recent identity theft case.
Inergize Digital This site is hosted and managed by Inergize Digital.

WTVQ.com supports children's privacy rights. All persons under the age of 13 MUST have parental permission to use this website and direct parental supervision is strongly recommended.