US Beef Prices Soar Nationally Amid Shrinking Herds, High Demand

Beef prices across the United States have reached record highs due to a combination of supply constraints and sustained demand, with ground beef prices surpassing $6 per pound and some reports indicating prices as high as $9.26 per pound. The national cattle herd is at its lowest level since the early 1950s, driven by factors such as prolonged drought, increased feed costs, and ranchers selling more cattle to maintain profitability, which in turn reduces future herd sizes. Additional pressures include halted live cattle imports from Mexico due to a parasitic infestation and potential tariff increases on imported beef, especially from Brazil, that could further limit supply and raise prices. Despite higher costs, consumer demand for beef remains strong, and the industry is adapting by promoting value cuts and educating consumers on how to stretch their beef dollars. Experts suggest that while some price relief might occur after the grilling season, significant reductions to levels seen in previous years are unlikely in the near future. The challenges faced by cattle producers and the beef supply chain highlight an ongoing trend of rising beef prices that is expected to persist for years.