U.S. Beef Prices Soar to Historic Highs
(MENAFN) From neighborhood cookouts to major fast-food chains, Americans are feeling the pinch as beef prices soar to historic highs, driven by drought, disease outbreaks, and international trade strains, according to government data and market experts.
Ground beef reached an average price of $13.49 per kilogram in June, marking the most expensive level ever recorded, based on the latest Consumer Price Index (CPI) from the U.S. Bureau of Labor Statistics, released on July 15. This figure represents a surge of nearly 12% compared to the same time last year and an 8% increase since January.
Data from the U.S. Department of Agriculture (USDA) Agricultural Marketing Service (AMS) reveals that steak lovers are also paying more. The average advertised price for all featured steak cuts rose to $25.34 per kilogram, an 8% increase over the same week in 2024. AMS compiles these figures from nearly 25,000 grocery stores across the country.
The upward trend is also evident in wholesale markets. According to Trading Economics, live cattle futures closed at $4.97 per kilogram on Monday, underscoring deepening supply issues.
In response to escalating beef values, the USDA’s Economic Research Service has revised its 2025 forecast for average steer prices to $6.88 per kilogram. The move follows a sharp 21% spike in boxed beef prices during the first six months of the year, according to the agency’s "Livestock, Dairy and Poultry Outlook," published July 17.
At the heart of the crisis is the nation’s shrinking beef-cow population, now at its lowest level in more than 70 years. As of Jan. 1, USDA data shows the U.S. had just 27.9 million beef cows, a 1% decline from 2024 and the fewest since 1951. Economists warn that rebuilding herds is a slow process, typically taking two to three years, suggesting that supply constraints—and elevated prices—are likely to persist through at least 2026.
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