US beef prices could spike due to storms

US - The snow has affected the whole beef belt, but the predicted rise should be only short term, say cattle experts.
calendar icon 3 January 2007
clock icon 1 minute read

Consumers likely will pay higher prices for beef, thanks to the December storms that swept across Colorado and other states known for cattle production.

"I expect we will see higher prices in the short term as a result of this storm. We have still got feedlots without power," said Terry Stokes, chief executive of the National Cattlemen's Beef Association. "This storm has hurt the whole beef belt."

It is unlikely that prices will spike for more than a week or two, said Jack Whittier, beef extension specialist at Colorado State University.

On Friday, cattle going to slaughter sold for about $88.50 per 100 pounds, said Joe Schuele, director of trade media for the National Cattlemen's Beef Association.

He wouldn't speculate on how much prices might jump as a result of the weather.

Source: Denver Post

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