Some experts predict increase in the price of meat
Fri, 10 Aug 2012 21:31:54 GMT —
Some experts are saying people could be in for some sticker shock when it comes to increasing prices in the meat case next year at your local grocery store.
That's because the severe drought is forcing some farmers to sell off their herds and that could have a domino effect in the food chain from the farm all the way to the store.
But at the County Market store on North 24th Street in Quincy, it's a normal day for shoppers. Stocking up on hamburger, chicken and even a special on pork loin. But according to a farm economist at the University of Missouri, there could be some shock in a few months from now when people are standing at the meat case.
"I can see an 8% rise in meat prices at the consumer level could happen in mid to late 2013 and carry into 2014. Similar things for dairy," Scott Brown said.
But when we spoke to Todd Musolino, who's the store director for one of the County Market stores in Quincy and who's been in the grocery business for the past 30 years, he said people just need to be patient and have a wait and see approach before jumping on the price increase bandwagon.
"I think we're at a wait and hold at this point. As far as what the people will expect to see we really don't know. It comes and goes and when it comes it will come. We really don't know for sure what's going to happen as far as price increases. I think you can look for that down the road, but I'm not too concerned about it at this point," Musolino said.
He also said he's seen price increases like this in the past and that they've spiked and went back down. He also wanted to point out that the price increases are tied into fuel costs as well. But he says that the county market company is always looking at ways to stay competitive and provide as much savings to the consumers as they can.
Click here for an info graphic from the CME Group titled "The facts behind food prices."
We checked Friday on some of the prices for pork, chicken and beef at the County Market store in Quincy and skinless boneless chicken breasts were selling for a $1.79 a pound, while ground chuck was selling for $2.99 a pound.