Beef prices rise

As of November 17, the wholesale price of fresh beef had surged to 50 yuan ($8.21)/kilogram, nearly 80 percent higher than three years ago, the Beijing Youth Daily reported.

In recent years, there have been two major spikes in the price of beef: during Spring Festival of 2007, when the price per jin doubled, and during Spring Festival of this year, when the price per jin jumped eight yuan overnight. Contributing factors include increased demand for beef and mutton, a decrease in the number of cows being raised for beef; and the longer period (compared to pork) required to bring a cow to market.