Beef Prices On The Rise


By Joey Martin

Twin Falls, Idaho ( KMVT-TV / KSVT-TV ) beef and pork prices are seeing a rise across the nation but about what about here in southern Idaho.

In this week’s segment of Grow Southern Idaho Joey Martin takes a look at the numbers from the Twin Falls Livestock Commission.

Red meat prices in the U.S. are at record highs.

Strong demand both domestically and internationally has attributed to the steady rise.

Across the board meat prices have risen 9.4 percent in the last year.

In may, beef and veal prices were up 10.7 percent.

With pork up 12.2 percent.

This is all according to the U.S. Labor Bureau.

Beef prices have consecutively set record highs month after month.

And the pattern is looking to continue.

But what about here in southern Idaho?

"Our cattle numbers have dropped 10–15%. We've sold a lot of cow here in the last 3–4 years partly because the drought and also because the prices have been good. We know what goes up must come down... and eventually sometime down the road the market is going to correct... and when it does, that's what concerns ya."
Said Owner and Manager of the Twin Falls Livestock Commission Bruce Billington.

The rise can be summed up as simple as this... Less meat available ... Means higher prices for the consumers.

With disease and drought impacting cattle and pork across the county that price can be expected to climb.

U.S. beef suppliers are expected to be down 5 percent this year, with pork down 3 percent.

Prices could be expected to surpass last year's high of 5.29 a pound up to 5.75 per pound of beef.

With pork following the same trend.