Brisket Prices On The Rise As Demand Exceeds Supply

NEW YORK (CBSNewYork) -- The brisket business is booming in the New York area and across the country. But supply just can't keep up with demand, leading to soaring prices.

At Hill Country Barbecue Market in Flatiron, where brisket is the signature dish, the wholesale cost has jumped from roughly $1.75 per pound in 2010 to about $3.10 last year to $3.71 today, founder Marc Glosserman told CBS2's Vanessa Murdock.

Since Hill Country opened in 2007, however, the price for customers for a single serving has only increased by about $1.50.

Customers chow down on about 5,000 pounds of brisket a week at the restaurant, Glosserman said.

"We've just seen an explosion in the demand," he said.

Here and overseas, supply is way down. A persistent drought out west is leaving ranchers with two choices: pay for expensive feed, or thin their herds, leading to the lowest levels of brisket in 60 years.

At Old Homestead Steakhouse in Chelsea, famous for its brisket blend burgers, Executive Chef Oscar Martinez said while the price of brisket is exploding, the cost for all cuts of beef is rising 10 to 15 percent.

For example, two years ago, a porterhouse for two cost customers $70. Today, it's $90.

"There's just more demand for it," Martinez said.

Martinez said he's optimistic the prices of beef will begin to fall, but it's not likely to happen in the next few months.

Some brisket lovers. however, seem unaffected by the higher prices.

"It's doesn't (matter)," one man said. "It doesn't."