In July, U.S. retail beef prices soared to an all-time high, jumping over 10% year-on-year and outpacing August's 2.7% inflation rate. Yet consumers are still reaching for steaks, burgers and roasts despite the rising cost.
At the heart of this surge is a shrinking cattle herd. Ranchers have been trimming numbers amid rising feed costs, extreme weather events and market shifts, tightening supply and driving up tags at the meat counter.
Industry experts point to growing export demand and higher grain prices as amplifiers of the squeeze. With fewer cattle to process, grocery shoppers are feeling the pinch—and wondering how long prices will stay elevated.
For digitally savvy foodies and budget-conscious travelers, the trend is reshaping meal planning. Leaner cuts, plant-based swaps and creative recipes are gaining traction as affordable alternatives to traditional beef dishes.
Looking ahead, analysts will track herd recovery and weather patterns in key cattle states. If supply remains tight, beef may stay on the pricier side, influencing dinner tables, pop-up BBQs and culinary startups around the world.
Reference(s):
cgtn.com
