Possible record high beef prices

With beef prices already at $1 per pound, Purdue University Extension agricultural economist Chris Hurt believes we could see prices move to record levels.

“I think we’ll have very strong prices throughout the spring and summer,” said Hurt. “Probably see the highs of the year this spring and just where to draw that line here on the top nobody knows for sure.”

Hurt says that once we get to May and June it will be difficult to maintain all of the strength beef producers have been enjoying.

Looking ahead, the Purdue ag economist says for beef producers to enjoy these prices.

“I think the prospects are good for profitability certainly in to 2011,” Hurt said.

But with questions remaining about where overall meat demand will be in the future, Hurt adds, “don’t even talk about expansion for at least another year.”

Audio: Chris Hurt, Purdue University (3:40 MP3)

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