POSTED: Wednesday, April 30, 2014 - 5:25pm
UPDATED: Wednesday, April 30, 2014 - 6:46pm
Tyler , TX (KETK) — Beef prices are soaring. In the past year, the average retail price per pound has risen 5.4%. Which means for local vendors, like Tyler's Country Meat Market, the problem is felt nationwide. "Never have I ever seen the prices jump like they're jumping," and whenever Jim Mantooth, manager of the Country Meat Market, spoke with vendors he said, "they're saying they don't see a price decrease in the near future.
Texas leads the nation in beef production, but many ranchers are still feeling the effects of our record drought of 2011. As we enter into our fourth consecutive year of below-average rainfall, prices will only go up. "The vendors are telling me its going to go higher," said Mantooth. That cost, ultimately hits the consumer's wallet the hardest. "Right now inventory is low, for the demand that needs to be met," said Ashley Pellerin of the Texas Agri-life Extension Services.
However, Mantooth says its not just beef we need to worry about. He said, "beef, pork, chicken, everything, everything I'm buying is increasing." With summer right around the corner, people will soon be cooking out, enjoying hot dogs and hamburgers, that's if, they can afford it. Pellerin said that it's beef that has been hit the hardest.
Until ranchers are finally able to fully rebuild their herds, prices will continue to rise. Which makes the need for our Texas Agri-life Extension Services, that much greater. Pellerin said, "rebuilding the cow herd is a major initiative we have going on in extension and we're really trying to help those producers that want to get back into the business."