There is some good news for meat eaters in 2016. Prices are expected to drop, according to an article in MarketWatch.
Quite a few individual cuts of meat have already dropped in price—including ground beef—and should decline even more in the next few months.
According to MarketWatch, the price of beef rose 6.75 percent in 2015, compared with a historical average rise of 4.1 percent.
Prices remained high because of severe droughts that began in Texas and Oklahoma in 2011 and caused ranchers to sell out, lowering cattle inventories.
Although herd expansion is underway, it takes 16 to 18 months before the beef is ready for consumption, MarketWatch said.