OHIO, USA — Beef prices are up 14% compared to this time last year, and steak and hamburger lovers should not expect the prices to stabilize any time soon.

Jason Falter, owner of Herman Falter Packing Co., said it is due to a classic case of supply and demand.

“Over the past 10 years the hurricanes swept through Texas, cold winters killing off the herd, and droughts leading to higher feed prices, so this all leads to a higher price on cattle and we are seeing the smallest supply that we have in over 50 years,” Falter said.

There are 27.9 million beef cows in the United States as of January of this year, compared to 45 million in 1975, according to data from the U.S. Department of Agriculture.

Despite fewer cows available, Falter said demand for beef is as high as ever.

“In fact, we ha

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