Lingering Drought Impacts Beef Prices


Published 03/04 2014 12:08PM

Updated 03/04 2014 11:02PM

(CNN) There's a change in beef prices that shoppers will likely notice at the grocery store.

Beef prices hit an all-time high last month.

The USDA says the average retail price per pound of fresh beef was $5.04.

Analysts say a supply squeeze caused by the lingering drought is pushing up prices. This is the smallest cattle herd since 1951.

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