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RECORD HIGH: Beef Prices On The Rise

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Grills all over the country were fired up this holiday weekend, but those steaks and burgers came at a cost.

The price of beef is on the rise and could set new record highs in the coming weeks.

The USDA says choice grade beef jumped to $2.11 per pound last week, breaking a 10-year record for wholesale prices.

Agricultural officials say the increase is due to the drought, which shrunk cattle herds to their smallest levels in 60 years.