Beef prices are cutting meal budgets to the bone, and there's no letup in sight.
The price of ground beef, one of the most popular meat products in the nation, has climbed to a record high as supply continues to lag behind demand.
The average price of a pound of ground beef hit $4.24 in recent weeks, according to the federal Bureau of Labor Statistics, which tracks food prices. That's the highest amount ever for the ubiquitous product, up around 90% from five years ago.
"We are going to see higher beef prices; we don't anticipate a lot of reprieve here," said Brenda Boetel, an agricultural economics professor and associate dean at the University of Wisconsin-River Falls.
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