As the drought continues, food prices continue to rise
July 30th, 2012
10:00 AM ET
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The drought that's spreading across the Midwest is already squeezing consumers, and it's only going to get worse, as the rising cost of soybeans and corn leads to higher prices for meat, peanut butter and other staples.

The price of ground beef could rise to about $2.88 per pound this year, a 4% jump from last year, when the average price per pound was $2.77, according to data from the U.S. Bureau of Labor Statistics and the U.S. Department of Agriculture. And if you want steak, get ready to pay 25 cents more per pound for sirloin, with the average price rising to $6.47.

Meat prices had already been moving higher, even before the drought took hold.

Read the full story on CNN Money - Get ready to pay more for your steak

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Filed under: Disaster • Drought • Environment • News

soundoff (7 Responses)
  1. Ron

    I've recently started buying meat from a new local Butcher that opened this past December here in East Nashville Middle Tennessee is on the outer fringes of the national drought so I can't really tell how this has affected the beef, chicken and pork that comes from the local farms. I do know the meat I purchase from Porter Road Butcher is fresh and without chemicals. Chris and James do a wonderful job supplying East Nashville residents with excellent meats! I don't mind paying more for knowing where my food comes from!

    August 8, 2012 at 9:20 am |
  2. Proud to be American

    The drought is caused by commie tree hugger liberals who want to take away our guns, our freedom, and raise our taxes.

    August 1, 2012 at 2:17 am |
  3. NYFarmer

    Imports of cheaper cuts of beef already stepped up 27% first quartet 2012

    July 30, 2012 at 12:31 pm |
    • Jdizzle McHammerpants ♫♫

      I love quartets!

      July 30, 2012 at 8:05 pm |
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