Wholesale prices for choice-grade beef hit an all-time high last week — up to $2.11 a pound before dropping back a bit. The high prices are blamed on the continued drought in many cattle-producing states.
(SOUNDBITE OF THEME MUSIC)
DAVID GREENE, HOST:
This Memorial Day, NPR's business news begins with pricey burgers.
Yeah. As the summer grilling season kicks off, this is not what we necessarily want to hear. Retail beef prices could soon be charbroiling our wallets. Wholesale prices for choice-grade beef hit an all-time high last week - up to $2.11 a pound - before dropping back a bit. But we're likely to feel the effect of this in stores soon. The high prices are blamed on the continued drought in many cattle-producing states. Nationally, the number of beef and diary cattle is at its lowest level in 60 years.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.