Rising Beef Prices in the U.S.

Beef prices are soaring due to factors like drought, high grain prices, and rising interest rates, leading to a decrease in cattle inventory and an increase in demand. This has resulted in record-high prices for popular cuts of beef, with the trend expected to continue.

Cattle Inventory Report

The USDA's January Cattle Inventory report showed a decline in the cattle herd nationwide, reaching record low levels. Beef cows that have calved hit a record low at 27.9 million, and the beef herd has shrunk 40% since 1975. Ranchers face decisions on feeding or retaining calves for breeding due to high prices and trade uncertainties.