Your hamburger could cost more in 2013.
Global beef prices are expected to rise to record highs in 2013, according to Rabobank, a Dutch financial firm with a focus on agriculture. Their analysts point to the "lethargic world economy," and a beef supply that has largely remained flat for six years straight.
In the United States alone, beef production is expected to decline significantly in 2013, whether or not droughts in the Midwest continue.
Even if more rain restores pastures next year, beef production could be down as much as 9%, said David Nelson, a Rabobank analyst. "This is because ranchers would then hold back young females (heifers) for breeding to expand, instead of sending them to the market," he said.
Read the full story on CNN Money: Beef prices may hit record high in 2013
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