Rising Record Meat Prices

Analysts predict that meat prices will reach such record highs this spring that consumers may refuse to buy meat.


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On Monday, financial analysts at Bloomberg L.P. predicted that meat prices are set to reach record highs as early as June, and that many consumers may reduce their meat consumption as a result. The sharp spike in retail prices is due to factory farms reducing their slaughters to the smallest size in decades, a move that was forced by increasing feed costs connected to the need for more ethanol. Researchers estimate that domestic meat supply may plummet to a 13-year low as a result of the push by former President George W. Bush to increase ethanol levels. With the unemployment rate nearing a 26-year high, analysts expect consumers to shy away from exorbitantly overpriced meat products.