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Are Beef Prices about to Grill Your Wallet?

You remember the popular ‘80’s TV commercial that asked "Where's the beef?" Today it would be “Wow, it costs that much!?"

Trader Brian Kelly has all the details in the following special report in the vidoe below.

And on a related note, shares of Smithfield Foods surged to a 31-month high and Tyson Foods rallied after BB&T Capital Markets analyst Heather Jones upgraded her ratings on both stocks, saying U.S. meat processors will benefit as Japan’s recovery fuels already-robust beef and pork exports.

Should you play along? Don't make a move until you check out our exclusive conversation with Heather Jones.

Watch the video now!

Clickhere to check out a post written by CNBC Producer Catherine Holahan about beef prices hitting 10-year highs.


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Trader disclosure: On March 24, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Guy Adami is Long (AGU); Guy Adami is Long (MSFT); Guy Adami is Long (C); Guy Adami is Long (INTC); Guy Adami is Long (NUE); Guy Adami is Long (GS); Guy Adami is Long (BTU); Steve Cortes is Long (TM)p; Steve Cortes is Long (EXC); Steve Cortes is Long (GS); Steve Cortes is Long (SO); Steve Cortes is Short (F); Steve Cortes is Short (BAC); Steve Cortes is Short (DBA); Steve Cortes is Short Natural Gas; Steve Cortes is Short Silver; Steve Cortes is Short Wheat; Steve Cortes is Short Corn; Steve Cortes is Short Beans; Steve Cortes is Short Japanese Yen; Joe Terranova is Long (C); Joe Terranova is Long (VRTS); Joe Terranova is Long (GS); Joe Terranova is Long (JPM); Joe Terranova is Long (UPL); Joe Terranova is Long (MS); Joe Terranova is Long (PBR); Joe Terranova is Long (BAX); Joe Terranova is Long (TEVA); Joe Terranova is Long (IBM); Joe Terranova is Long (BTU); Joe Terranova is Long (POT); Joe Terranova is Long (XOM); Joe Terranova is Long (DIS); Joe Terranova is Long (RSX); Joe Terranova is Long (CNQ); Joe Terranova is Long (CNX) Puts; Tim Seymour is Long (AGU); Tim Seymour is Long (BAC); Tim Seymour's Firm is Long (POT)

For Brian Kelly
Accounts managed by Kanundrum Capital Are Long (TLT)
Accounts managed by Kanundrum Capital Are Long U.S. Bonds
Accounts managed by Kanundrum Capital Are Long (GLD)
Accounts managed by Kanundrum Capital Are Long (SLV)
Accounts managed by Kanundrum Capital Are Long Gold
Accounts managed by Kanundrum Capital Are Long Corn
Accounts managed by Kanundrum Capital Are Long Soybeans
Accounts managed by Kanundrum Capital Are Long Wheat
Accounts managed by Kanundrum Capital Are Long Euro
Accounts managed by Kanundrum Capital Are Long (VLO)
Accounts managed by Kanundrum Capital Are Long (RDC)|
Accounts managed by Kanundrum Capital Are Long (MCP)
Accounts managed by Kanundrum Capital Are Short Yen
Accounts managed by Kanundrum Capital Are Short (XLF)
Accounts managed by Kanundrum Capital Are Short (IXG)

For Dennis Gartman
Funds managed by Dennis Gartman are Long Gold
Funds Managed by Dennis Gartman are long Oil
Funds Managed by Dennis Gartman are long Canadian Dollars
Funds Managed by Dennis Gartman are long Australian Dollars
Funds Managed by Dennis Gartman are long Corn
Funds Managed by Dennis Gartman are long Sugar
Funds Managed by Dennis Gartman are long Natural Gas
Funds managed by Dennis Gartman are Short Euros

For Rich Volpe
**No Disclosures**

For Colin Gillis
**No Disclosures**

For Scott Nations
Scott Nations is long (SPY)

For Heather Jones
BB&T Capital Markets is a Market Maker in (SFD)
BB&T Capital Markets is a Market Maker in (TSN)
BB&T Capital Markets expects to receive or intends to seek compensation for investment banking services from Smithfield Foods, Inc. and Tyson Foods, Inc. in the next three months.
An affiliate of BB&T Capital Markets received compensation from Smithfield Foods, Inc. and Tyson Foods, Inc. for products or services other than investment banking services during the past 12 months. The analyst or employees of BB&T Capital Markets with the ability to influence the substance of this report know or have reason to know the foregoing facts.


CNBC.com with wires.