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Price of beef Source: Bureau of Labor Statistics

According to statistics released today (Wednesday, Dec. 17, 2014) from the Bureau of Labor Statistics, the average price nationally for ground beef rose to $4.201 per pound in November 2014. In October it was $4.15/pound. In January 2014 it was $3.467/pound. The price of beef has been on a steady rise since January 2011.

Statistics for national average prices for ground beef per pound 2004-2014:
Nov. 2004: $2.216
Nov. 2005: $2.302
Nov. 2006: $2.206
Nov. 2007: $2.289
Nov. 2008: $2.357
Nov. 2009: $2.062
Nov. 2010: $2.394
Nov. 2011: $2.899
Nov. 2012: $3.175
Nov. 2013: $3.477
Nov. 2014: $4.201

The explanation for the high prices include a shortage of cattle on the market, drought conditions causing ranchers to reduce herd numbers, harsher winter conditions that kept animals from gaining as much weight on feedlots, and high feed prices.

Source: United States Department of Labor Bureau of Labor Statistics, http://data.bls.gov/timeseries/APU0000703112

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