The Drought will Affect us for Years
Cattle herds are the smallest in two generations. The resulting spike in beef prices will cause Americans to eat less meat.
Your burger is about to get pricier
The damage from this year's U.S. drought will be felt across America for years -- and may change the way we eat.
The immediate realities from the drought are these: Cattle herds are the smallest in 39 years and beef prices are at record levels, Bloomberg reports.
But the impact will last for a while. Fast-food chains are raising prices. Food could cost as much as 4% more next year, and beef prices may rise by 5% -- more than any other food group. The end result? The average American will likely eat less than 200 pounds of red meat and poultry next year. The last time that happened was in 1990.
The Rise of Food Prices
Beef won't be the only food affected.
Drought will increase food costs 3% to 4%, beef 4% to 5% in 2013
Read more:Drought will increase food costs 3% to 4%, beef 4% to 5% in 2013 - The Denver Posthttp://www.denverpost.com/headlines/ci_21159257#ixzz24VBLs9FI
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