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Beef prices to remain high

Posted at: 05/14/2013 6:58 AM

The price of wholesale beef hit an all-time high earlier this month and there's no sign it'll drop.  
 
The U.S. cattle and calf herd is at its lowest level since 1952. Cattle producers have also been hard hit by poor pasture conditions, a lousy hay crop, drought and late freezing weather.
 
American beef-eaters are also competing with foreign carnivores, as more beef is being exported overseas.