What is causing meat prices to keep going up?

Posted at 12:44 PM, Jun 04, 2014
and last updated 2014-06-04 12:44:31-04

DALLAS - Don't expect steak or pork chop prices to go down any time soon. The price of meat has been rising for the past few months and it is expected to move even higher. Drought in several states has led farmers to raise fewer animals. That, coupled with a higher worldwide demand for meat, has pushed up meat prices.

Pork prices have increased 40 percent in the last year, rib eye prices have increased 10 percent and ground beef prices rose five percent, according to the USDA.

Meat prices

Restaurants may have to raise prices to cover costs.

"It’s always something that we look at, but we don’t want to burden our customers with any kind of price increase if we can help it,” Jeff Forrester, of Dickey's Barbecue, said.

USDA economist Annemarie Kuhns said beef and pork prices are expected to continue to rise over the next few months.

Forrester said he believed it may take another two years before prices come back down.