Ethanol demand may increase meat prices

April 26, 2010 4:26:26 PM PDT
Meat prices could rise to record highs this summer. Experts say the reason behind it is the rising demand for ethanol.

Pork prices have jumped by 25-percent this month. Beef is up 22 percent for the year and chicken prices have shot up by the largest amount in 20 months.

Experts say the reason is a government mandate to turn more of the nation's corn supply into ethanol and that's caused feed prices to skyrocket, prompting many farmers to drastically reduce the size of their hog and cattle herds.