US Beef Prices Hit Record Highs as Herds Shrink and Costs Soar
Updated
Updated · CBS New York · Apr 13
US Beef Prices Hit Record Highs as Herds Shrink and Costs Soar
14 articles · Updated · CBS New York · Apr 13
Beef prices in the US have surged to record highs in 2026, with ground beef exceeding $6.70 per pound and steaks up 16% year-on-year.
This spike is driven by the smallest cattle herd since the 1950s, persistent drought, high feed costs, and increased oil prices linked to the Iran conflict.
Consumers and businesses are adapting by reducing waste, switching to cheaper meats, and using blended products, while relief is not expected before 2028.
When can Americans realistically expect beef prices to finally start falling?
Will increasing beef imports from Argentina actually lower prices at the grocery store?
If beef prices are soaring, why are major meat processors reporting losses?
Why are ranchers hesitant to expand herds despite record-high beef prices?
With ground beef costing more than the minimum wage, is it becoming a luxury?
Could the screwworm outbreak in Mexico prolong America's beef shortage?