Rising Record Meat Prices

On Monday, financial analysts at Bloomberg L.P. predicted that meat prices are set to reach record highs as early as June, and that many consumers may reduce their meat consumption as a result. The sharp spike in retail prices is due to factory farms reducing their slaughters to the smallest size in decades, a move that was forced by increasing feed costs connected to the need for more ethanol. Researchers estimate that domestic meat supply may plummet to a 13-year low as a result of the push by former President George W. Bush to increase ethanol levels. With the unemployment rate nearing a 26-year high, analysts expect consumers to shy away from exorbitantly overpriced meat products.