Beef Prices to Drop in 2016

The cost of beef will drop up to 2 percent in 2016 with ground beef prices hitting the lowest level in two years, according to projections from the U.S. Department of Agriculture. Production is expected to rise for the first time since 2010 as bumper grain crops reduce costs to feed animals, and cattle ranchers expand their herds. Ample rains this spring are creating ideal pasture conditions for this point in the season, the best in six years.