VIDEO: What's Behind the Beef Price Hike?

USDA beef prices have jumped to $5.45 per pound, compared to $4.88 per pound at this time last year. So what's causing beef prices to rise? The LJ Ranch in Logan, Kansas, for example, said it has the lowest amount of cow numbers since 1952.

CBS This Morning
Jul 10, 2014

Millions of Americans celebrated the Fourth of July holiday weekend with barbeques, but the cost of the burgers and steaks is up sharply since the last Fourth of July.

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