The U.S. is still one of the world’s biggest meat producers. So why are Americans paying so much for beef?
Americans are facing record-high beef prices, with the average retail cost of ground beef reaching $6.90 per pound, a 19% increase from the previous year. Despite the U.S. being a major global meat producer, domestic cattle populations have declined significantly since 2019 due to factors like drought and heatwaves, reaching their lowest count since 1951. These supply constraints, coupled with consistent consumer demand and rising feed costs exacerbated by tariffs, are driving up prices, with projections indicating herd expansion won't occur until at least 2028. AI
