In the meat isle of most grocery stores, the price of beef has gone up by 34 percent over the last year. Half of that increase in just the last 3 months. At the Butcher Shop steakhouse in Little Rock, managers say the prime cuts are outrageous. They`ve paid an 85 percent increase for wholesale prime ribs and filets. The restaurant recently changed its menu, passing on only 15 percent of the increase onto the customer. Its hoping prices will go down soon. But the Arkansas Cattlemen`s Assocation is smiling all the way to the bank. Arkansas cattle farmers say they`ve been waiting for this day for over 20 years. They tell KARK this will be a great Christmas. The reason for the increase? Several factors, first there is a limited supply. This is the lowest year in history for US cattle production. Second, the industry has more exports to other countries because of the threat of mad-cow disease. And the third reason is being attributed to higher consumption, in part because of the American obsession with high protein diets.