Drought causing beef prices to soar

KANSAS CITY, Mo. - It is day 93 of the Drought in the Heartland, and the latest forecast shows persistent drought in Kansas and Missouri through November.

The United States Department of Agriculture says you can expect to pay higher prices for beef next time you visit the grocery store.

In this extreme drought, thousands of farmers are selling their cattle because they don't have enough grass or water to feed them, the USDA reports.

That impacts Missouri residents the most, as the Show-Me State is home to 106,500 ranches, the second highest number in the country, second only to Texas.

30,571 cows were sold in Missouri last week, compared to just 22,387 this time last year.

The USDA expects beef prices to rise as much as 9 cents per pound to between $1.15 and $1.23, and to continue to rise through 2013.

This comes on the heels of several other events that caused beef prices to rise drastically, including last year's drought in Oklahoma and Texas and a continuous spike in corn prices.

Meteorologists estimate it would take anywhere between 10-15 inches of rain over an extended period of time to mitigate Missouri's drought conditions.