Consumers will likely see a modest uptick in beef prices at the grocery store next year, though most of the significant increases have already happened, a cattle market analyst said Thursday.
CattleFax Executive Vice President Randy Blach told the more than 850 producers attending the Kansas Livestock Association convention they shouldn't get too comfortable with the all-time high cattle market prices, either. Cattle prices are expected to fall next year as the nation's cattle herd expands and the pork and poultry industries bring competition.
This year's record cattle prices were driven by what Blach calls a perfect storm. Last year at this time, meatpackers were paying $130 a hundredweight for cattle, compared to $170 a hundredweight just last week.
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