JACKSON, Miss– Prices of milk and beef shot up during 2014, but a little relief is on the way.
Burgers in the backyard and that daily bowl of cereal got a little more expensive last year, no thanks to the decline of cowherds last year.
“Beef and dairy products are currently estimated to be at record prices for 2014,” says Dr. John Riley, Agricultural Economist at Mississippi State University.
Cow production overall was down, and Riley says it has been declining for several years.
“It really took a hold of beef prices this year,” says Riley.
Even though the cows herds are starting the increase in size, the bad news is that it won’t reflect much in the grocery stores.
“We won’t see relief any time soon,” says Riley, “it takes two year for the increase at the farm end to reflect in the stores.”
But relief is coming for milk, and much sooner than beef.
“We’ll have relief on milk in the first quarter of 2015,” says Riley, “if production stays the same and consumption stays the same.”