Yes, it's true, beef prices are projected to be high in 2015. You're probably wondering "why." Well the short answer is that there is not enough cattle. Now you're wondering "what... why?" Here's your answer:
Drought has plagued the cattle industry for the past few years. This has caused pastures to dry up, hay prices to sky rocket and ranchers forced to sell their herd to offset the costs. The nation's cattle herd is at the lowest number that it has been at since Truman's presidency (1950's).
The good news is that the weather has turned around (for most areas of the country) and ranchers are beginning to expand their herds. However, the bad news is that ranchers are expanding their herds. Ranchers will more than likely be hanging on to their cattle to breed in order to increase their herd. This means that they will be selling/ processing less cattle. It takes time from the breeding until the cow is ready to be processed. The gestation period for cattle is nine months and usually only produces one calf at a time. Then it takes (for grass-fed/ grass-finished beef) 18-24 months before the calf is ready to be processed. Do the math.... for one calf it's close to 2-2.5 years before it's made into beef. That's a long time, especially when beef is in high demand. With such a high demand, prices are inevitably going to rise.