The burger or bacon you put on your plate is likely at its most expensive since the 1980s, and it's only going to get pricier.

The surging price of corn futures - which allow farmers to lock in the price of the grain for an extended period - means few farmers are expanding their herds, Bloomberg News reported. Meat prices have risen 14% this year, driving up U.S. retail costs, and the rally is not over yet.

The U.S. cattle herd in July was the smallest since the 1970s, and the number of breeding hogs was the near the lowest on record. Corn futures, meanwhile, touched a two-year high.

"If grain prices go up, then meat prices are going to have to move up," Mark Greenwood, who oversees $1 billion in loans and leases to the hog industry for AgStar Financial Services Inc, told Bloomberg News. Corn costs "tempered any enthusiasm there was on expansion," he said.

Farmers often use corn as a feedstuff for animals.

Corn and wheat have risen by as much as 40% in the three months to September. Hot, wet weather hurt U.S. crops, while drought destroyed huge areas of crops in Russia and Europe.




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8 Comments

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Eminem

Wow this has nothing to do with what I wanted!!!

April 16 2011 at 7:04 PM Report abuse rate up rate down Reply
Wanda

I have land and we do grow our own vegetables! And we eat mainly chicken and fish! Exercise and eat healthy and you will avoid most heart disease, cancer, strokes and diabetes!

October 16 2010 at 9:21 PM Report abuse rate up rate down Reply
flippinlady

Get land, grow your own, HURRY !

October 16 2010 at 1:58 PM Report abuse rate up rate down Reply
MSmailbox

I love bacon! I even sprinkle Baco's on my luggage, when I fly.

October 14 2010 at 6:18 PM Report abuse rate up rate down Reply
Bearmaul

Obama is the greatest president EVER.......Wow, I can't believe how great he is, he predicted no COLA increase for the seniors and disabled and now we know why, He's trying to starve them out, screw old people and the disabled should be deported, these people are a drag on our progressive society so no protein for them and the cover story is great, sure we can tell them to go veggie but (he he) they can't afford to much of that expensive fruits and vegtables either. As long as Obama keeps trying to screw the least able, the downtrodden, the old folks who should just go off and die, he will always get my vote.

October 12 2010 at 5:28 AM Report abuse +1 rate up rate down Reply
acyrerre

NOW REMEMBER THE U.S. GOV SAYS THERE IS NO INFLATION. OH, I GORGOT TO TELL YOU, THOSES FOOLS LIVE IN A DREAM WORLD.

October 11 2010 at 1:31 PM Report abuse +1 rate up rate down Reply
1 reply to acyrerre's comment
chris1011

I don't eat much beef, maybe 5 lb total in a year, so I really don't care if it goes thru the roof. Meatless diet with a bit of chicken or fish is much better for you than burgers and fries. You can eat very well without ever eating a piece of cow.

October 11 2010 at 10:22 PM Report abuse +1 rate up rate down Reply
jkennedy806

Become a vegetarian. My daughter did 7 years ago, and I only eat meat maybe once a week, chicken maybe once or twice a week, You can replace meat safely with beans, a dish of beans and rice is a complete protien. And Boca makes burgers that after you put on all the condiments taste McDonald's so we save money and fat and don't go there anymore. We aslo grow a huge garden. This year we didn't get alot of rain, so the garden didn't yield as well. But I have alot of farms around -- so I can shop there.

October 11 2010 at 9:14 AM Report abuse rate up rate down Reply