here is my amateur view of the price of beef, and by extension most all food prices, just because corn and soybean oil, corn sugar are so commonly used in all processed food products. a lot of the existing beef cattle crop (calves) are going to come to come off the cow light, because of the drought. the ranchers in beef country have short hay crops, and will not only not be able to put that lost weight on at the ranch, they will also be dipping pretty deep, into an already historically small cow herd, and culling animals that normally would be kept in the herd. those cows will probably go right into the meat chain, as mostly burger. you already know how prices have risen, this might put enough on the market that there would be a TEMPORARY dip in prices. if you have a freezer, and eat an amount of beef, it would be the time to stock up. after it does rain, between smaller numbers of calves being born, more of them being kept to rebuild the herd, and this years calves coming out of the feedlots light, because of the lack of and the price of feed corn, the supply of beef will be severely low. i think the competing proteins will also be pretty high. there is a misconception that all the corn that a feedlot animal eats takes away from the human food supply, and that is certainly not the case. this year, probably more so, with droughted out ears of corn, more of the crop will be damaged and drop into the animal feed category, but total corn available will be light for all purposes. we always have a hamburger animal around, unmarketable because of lameness or some other flaw, so we will have burger, but we are going to stock up any other of the lesser cuts if we get the opportunity, as well as bring home some case lot of vegetables, soups, beans, etc. but there is no inflation, the tv tells me so!