Beef prices soar

It may cost you more to buy your favorite cut of red meat, as several factors are contributing to the sky rocketing beef prices.

According to the U.S. Agriculture Department's Economic Research Service, some cuts of beef have gone up more than 30-percent.

Fuel and feed costs are contributing factors to the higher prices, and some farmers say, even if producers turn a profit, most of the money goes towards upkeep of the land.

The United States is the biggest producer of cattle.

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