Although beef prices are up, some processors and cattlemen say that they aren't keeping up with the increases in the cost of feed.
Cattle may be netting record prices, but cattlemen aren't seeing huge profits and retailers are feeling squeezed, industry experts say.
Cattlemen say skyrocketing feed and fuel costs are eating into profits and retailers are apprehensive about passing all price increases on to consumers during a still struggling economy.
Meanwhile, beef production is at a 65-year low amid increasing demand from export markets that saw beef prices climb to record highs during the first half of the year.
Competitive markets overseas coupled with a weak U.S. dollar mean consumers can expect beef prices in the grocery to eventually catch up.