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Beef Hit 2 Month High - AG INFORMATION NETWORK OF THE WEST

The Beef Market continues to pick up demand following aggressive buying from packers. Let’s go to Virginia McGathey with the CME Group to hear more.

Transcripts for CNN CNN Newsroom 20131228 18:51:00

and also, there s a farm bill that s supposed to be passing that is still on the fence. no one knows if it s going to pass or not. that s a subsidy that s going to basically subsidize dairy farmers and wheat farmers. i think people are anticipating that that s not going to be passed, and therefore, we re anticipating these prices to go up. oh, boy. so, let s talk about those groceries, then. we re talking about milk, eggs, those basics, especially because of that farm bill, they re going to be going up. what are some of the items what are some of the other items that you have in mind? exactly. well, because of the farm bill, we might see a gallon of milk go up to as high as $7 a gallon. what? yes. oh, boy, we re in trouble. we re also going to see beef prices go up. beef hit its highest point in terms of pricing this summer. and again, it was because of a lot of demand, a short supply because of that drought. there wasn t a lot of grain to feed the cattle, herds started d

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