USDA Raises Price Forecast for Beef and Pork

The price of beef and pork may be going up very soon.  USDA has raised its price forecast for beef and pork consumed at home this year.

USDA now expects retail beef and veal prices to rise by 6.5 percent to 7.5 percent during 2014. Prices rose by 0.4 percent from June to July and have shot up 10.4 percent between July 2013 and last month.

Retail pork prices in 2014 are predicted to rise by 6.5 percent to 7.5 percent. Prices rose by 0.7 percent from June to July and have shot up 10.9 percent since July of last year.

For poultry, USDA predicted retail prices in 2014 would rise between 3 percent and 4 percent. Poultry prices rose 0.4 percent in June to July and have risen 2.7 percent since July 2013.

Restaurants appear to not boost prices as much, according to Meatingplace.  Still, the cost of food consumed away from home is expected to rise 2.5 percent to 3.5 percent in 2014. .