Due to the drought, many ranchers can't afford to feed and water their herds so they are taking everything they can spare to the slaughterhouses, with many of them backed up a week or more.
Article & Video: http://dfw.cbslocal.com/2011/07/18/dr...
The conclusion is that this winter and into the next year or two, beef prices will be very high as ranchers start to rebuild their herds.
ON THE OTHER HAND, because so much is going to slaughter this summer, I would think we will see a glut and maybe some great deals.
It may be time to invest in a vacuum sealer and a freezer, huh?
As the owner of a butcher shop, I do wish we were seeing lower meat prices, but they certainly haven't hit my area yet. My suppliers explain that sky-high fuel prices will keep meat terribly expensive for a while. Then again, it's in their interest to con me (ok, convince me) that prices have to remain high, so I'll hold on to the hopes that you're correct.