China is importing so much beef and pork that U.S. livestock companies are falling behind in meeting the demand.
Societe Generale SA has issued a report predicting that U.S. livestock prices will set new records in the first half of the year, according to this BusinessWeek article.
Higher prices will put more pressure on U.S. consumers already coping with rising prices for other foods and consumer goods.
U.S. cattle herds have been reduced as beef producers slaughtered more animals to take advantage of higher prices, according to the U.S. Department of Agriculture. Soaring prices for feed also has contributed to reductions in supply.