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MarketWatch reports that ground beef prices went up five percent during 2013, and that "climbing beef prices are here to stay."

According to the story, "The USDA’s Economic Research Service projects that beef prices will rise faster than almost anything else this year. Don Close, a cattle economist with Rabo AgriFinance says he thinks prices this year could rise 7-8% and roughly the same amount in 2015. Kevin Good, a senior analyst at cattle research firm CattleFax, says that “higher prices will continue through 2015 or 2016 … Good says that ground beef may see especially steep price hikes. He thinks that while steak retail prices could climb 5-10% in 2014, ground beef could climb 10 — 15%."

The piece suggests that cattle herds are at a 63-year low while US demand is declining … but that global beef demand is increasing, which means that prices inevitably will go up.
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