That cherished American tradition -- summer grilling -- is about to get pricier. Rising grain prices are affecting livestock feed, which in turn affects meat production. And surging overseas demand for both U.S grains and meat are adding to the equation.
Tyson Foods's profit will continue to increase as the biggest U.S. meat processor will benefit further from little-changed overall protein supply as well as an expected reduction of its own debt.
Meat eaters, brace yourselves for higher prices in the months to come. After a long economic slide, U.S. beef prices are rising again, as demand both at home and abroad increases. American consumers must now compete with Asian customers for popular beef short ribs.
Snowstorms on the Eastern Seaboard this week could mean shortages and higher prices for chicken. At least a dozen poultry houses suffered collapsed roofs due to heavy snow, and further losses are expected.
