DANNIKA LEWIS, Reporting: 0920 If you've had a beef
with your beef prices, you'll want to stay tuned tonight.
We'll tell you why you could be paying more for your
steaks and hamburgers well through the summer.
-- ERIC --
A SUDDEN SPIKE IN BEEF PRICES.
COULD HAVE YOU PAYING MORE FOR A STEAK DINNER.
I'M ERIC FRANKE.
-- MICHELLE --
AND I'M MICHELLE LI.
FIRST TONIGHT AT TEN ---
TO TELL US WHY WE'RE PAYING MORE FOR THE MEAT.
WE TURN TO THE NIGHT TEAM'S DANNIKA LEWIS.
BEEF MAY NOT BE WHAT'S FOR DINNER...
IF YOU'RE NOT WILLING TO SHELL OUT.
IF YOU HAVE A BEEF WITH IT.
THERE'S REALLY NO ONE TO BLAME.
IT GOES BACK TO FEED SHORTAGES A COUPLE SUMMERS BACK.
AND NOW WE COULD BE PAYING THESE BEEFED UP BEEF PRICES
BEHIND THE COUNTER OF JIM'S MEAT MARKET IN MADISON.
NATS - in the cooler 0221 This would be our tenderloin
that's going up quite a bit here.
JOHN LEHMAN IS STOCKING UP A COOLER OF CUTS THAT COST
JOHN LEHMAN, Jim's Meat Market Owner: 4947 I've been
doing this for 25 years.
Never seen that happen.
WITHIN A WEEK.
THE WHOLESALE PRICE OF GROUND CHUCK JUMPED FROM ABOUT
2-DOLLARS TO 4-DOLLARS A POUND.
NATS 0525 Let me know if you have any questions,
LEHMAN IS USED TO THE COST OF ANYTHING IN THE CASE
CRAWLING UP BY CENTS.
NOT DOUBLING ALL AT ONCE.
JOHN LEHMAN, Jim's Meat Market Owner: 5135 We get
scolded, but there's nothing we can do, so yeah.
WHEN MUCH OF THE COUNTRY WAS CRIPPLED BY DROUGHT.
AND FEED WAS TOUGH TO COME BY.
SOME CATTLE PRODUCERS COULDN'T STOMACH THE EXPENSE.
AND HAD TO CUT DOWN THEIR HERDS.
THE CATTLE INVENTORY IS THE LOWEST ITS BEEN IN MORE
THAN 50 YEARS.
TERRY QUAM, Marda Farm/Cattle Breeder: 1434 We're
just short on numbers...
WHEN YOU'RE IN THE BUSINESS OF BREEDING.
LIKE TERRY QUAM...
IT MEANS MORE CHANCES TO SELL YOUR CALVES.
TERRY QUAM, Marda Farm/Cattle Breeder: 1248 For
us, it's been a boom because we've been able to supply
some of them people with females to help rebuild their
herds, so it's been very good for us.
THIS BEEF MARKET IS COMING BACK TO BITE THE CUSTOMER.
AND THE WISCONSIN BEEF COUNCIL DOESN'T SEE THE SPIKE
IN PRICES STOPPING SOON.
JOHN FREITAG, WI Beef Council: 4311 I'm afraid it's
going to be a year and a half, two years before they,
you start to see them come down, just because how
long it takes to produce a beef animal.
AND NOW HAMBURGER???
NATS - 0543 wrapping up meat
LEHMAN HOPES CUSTOMERS KEEP DREAMS OF COOKOUTS ALIVE.
DESPITE THE PRICE OF PRIME RIB.
JOHN LEHMAN, Jim's Meat Market Owner: 0129 We love
what we do and we always get through it and it doesn't
THIS COULD ALSO BE BAD NEWS FOR POULTRY AND PORK LOVERS.
LEHMAN AT JIM'S MEAT MARKET SAYS THIS COULD DRIVE
UP THOSE PRICES TOO.
IF PEOPLE WHO USUALLY BUY BEEF.
SWITCH OVER TO CHEAPER OPTIONS.
BOOST THE DEMAND.
AND MAKE IT EASIER FOR SUPPLIERS TO JACK UP THE COST.
AS FAR AS HERDS GETTING BIGGER.
THE CATTLE FARMER YOU JUST HEARD FROM.
SAYS HIS COWS ARE IN HIGH DEMAND.
WHICH HOPEFULLY IS A GOOD SIGN OF GROWTH TO COME.
-- ERIC --