DENVER (CBS4)– Higher prices haven’t hit Colorado as a result of the drought across more than half of the U.S. but experts believe it’s just a matter of time until we experience higher milk, corn and meat prices.
There may be clouds in the sky but there is little to no rain falling on the ranches in the Midwest and Southern U.S. There are weeds where there should be grass fro grazing cattle. Ranchers are sending their cattle to market instead of trying to feed them.
Initially the glut of meat on the market could reduce beef prices for a while. Eventually the smaller herd will result in premium beef prices.
“So we’re going to see record beef prices it looks like, for multiple years, setting new records, at least through 2015,” said economist Chris Hurt.
That has the new owners of one local meat market a little worried.
“The meat market? We’ve been open about almost four months now,” said Pete’s Market owner John Moutzouris. “I don’t think it’s started yet but all my reps are telling me, ‘Hey, the prices are going to start going up because corn is going up’ because of the corn-fed animals, even the grass-fed I assume.”
The bigger supermarkets are saying the same thing.
The best advice is to buy local. Colorado isn’t in as severe drought as other parts of the country.
Local beef and produce can be cheaper because of lower transportation costs.