Beef Products Inc. sued ABC News, Inc. for defamation Thursday over its coverage of a meat product that critics dub "pink slime."
The cost of your summer cookout is shooting up like a firecracker this year.
That's because the price of ground beef has hit a record price of $3 a pound nationwide. Just a couple of years ago, it was $1.50 a pound.
Butchers say there are three reasons for this year's price hike.
The biggest reason for the jump in prices is the country's shrinking cattle herd. The number of beef cattle in the U.S. is now at its lowest point since 1952, before chain restaurants McDonald's, Wendy's and Burger King took off.
Several years of western droughts, which led to mass slaughters, have convinced ranchers to raise fewer cattle. That way, they don't deplete the farm's water or feed as much. But there is now less beef supply.
Call it what you want, but the "pink slime" controversy has forced schools and supermarkets to eliminate the filler used in its most inexpensive ground beef.
As a result, there really isn't any inexpensive ground beef anymore.
More Beef Exports
With the dollar strong compared to most of the world's currency, ranchers often make more money exporting their beef to other countries rather than sell it here.
In addition, the ban on U.S. beef after the mad cow scare has expired in many countries, so they are buying U.S. beef again.
Put it all together, and you have higher beef prices, and especially higher ground beef prices.
However, with an 8-ounce filet mignon now averaging $10 in supermarkets, the price of ground still feels cheap by comparison.
As always, don't waste your money.
Don't Waste Your Money is a registered trademark of the EW Scripps Co.
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The nation's school districts are turning up their noses at "pink slime," the beef product that caused a public uproar earlier this year.
The microbiologist who coined the term for lean finely textured beef ran through a few iterations in his head before pressing send on an email to a co-worker at the U.S. Department of Agriculture a decade ago.
Butchers are seeing a rise in business after the pink slime controversy. We comparison shop prices to show you meat options that won't break the bank.
Meat labels don't tell you much, so can you tell where it came from just by looking at it? Take our test.
The meat industry has taken a lot of heat lately about so-called pink slime, but it turns out it has another dirty secret: meat glue.
The Wendy's Co. ran full-page advertisements in eight major newspapers across the country Friday, reassuring customers that it has never used the beef filler known as "pink slime" and never will.
The main producer of "pink slime" and the politicians defending the company will have a hard time persuading consumers and grocery stores to accept the product, even if the processed beef trimmings are as safe as the industry insists.
The company that makes "pink slime" suspended operations at three of four plants where the beef ingredient is made, saying officials would work to address recent public concern about the product.
A national investigation recently revealed some grocery stores are selling ground beef that contains beef trimmings, also known as "pink slime." So which northeast Ohio grocery stores are selling it?