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Will retail beef prices continue to rise?

Retail beef prices are running well above year ago levels.  In fact – they’re about 6 percent higher than they were in December of 2012.  As we head into a new year, will we see some relief at the meat counter?

USDA livestock market analyst Shayle Shagam says it isn’t likely.  “We can expect to see continue high retail prices, probably averaging in the high $5.30 range for the year,” he says.  “That’s compared to somewhere around $5.30 for all of 2013.”

Shagam says the reason for the high prices is the lack of supply and adds it isn’t likely to see beef production on the rise again for two, maybe three years.