U.S. shoppers are feeling the pinch as retail beef prices in July hit an all-time high, jumping over 10% compared with last year—far above the national inflation rate of 2.7%. Yet, despite sticker shock, many are still happily adding steak 🥩 to their carts.
What’s driving the surge? It all comes down to supply: the U.S. cattle herd has been shrinking for years, hit by factors like droughts, rising feed costs, and tighter farm margins. With fewer cows on ranches, less beef makes its way to grocery shelves, and that scarcity pushes prices up 📈.
For young professionals and foodies alike, this trend ripples beyond dinner tables. Restaurants may tweak menus, home cooks might explore value cuts or plant-based swaps, and investors could spot new chances in agriculture tech and sustainable protein startups 💡.
Looking ahead, rebuilding the herd won’t happen overnight. Experts say it could take a couple years before supply catches up with demand. In the meantime, beef pricing remains one of the hottest stories in food and finance—so keep your eyes on the market and your grill ready 🔥.
Reference(s):
cgtn.com
