According to the USDA, beef prices have increased more than 10 percent and pork prices are up more than 12 percent over last summer. University of Missouri livestock economist Scott Brown says a combination of high feed prices, drought and a hog virus devastating the pork supply are to blame.
“I will say that we are at unprecedented levels in terms of where we are on consumer prices. We have been seeing growth over the last four or five years generally,” Brown said.
And soon, Brown predicts, you’ll see higher prices at restaurants as well.
“I would expect changes in menus or reduction in portion size or an increase in prices.”
The earliest consumers can hope for any easing of meat prices, Brown says, is early 2015.