date:May 26, 2014
14, reflecting the fastest increase in retail beef prices since the end of 2003. Prices, even after adjusting for inflation, are at record highs.
The drought in Texas and Oklahoma has worsened somewhat in the last month, providing further complications to the beef production industry, USDA said.
Beef and veal prices for the whole of 2014 are now forecast to increase by 5.5 percent to 6.5 percent, a sharp advance from last month's forecast for a 3 to 4 percent rise. Pork prices are set to rise