Beef Prices Soaring: Causes & Solutions

Beef Prices Surge: A Perfect Storm of Low Supply and High DemandShoppers are feeling the pinch as beef and veal prices soar by nearly fifteen percent over the past year, while overall food prices only increased by three percent. This surge is due to a record low cattle supply, which has shrunk to its smallest size since 1951. The contraction phase of the cattle population cycle, combined with severe drought conditions, has led ranchers to sell off more cattle instead of retaining them for breeding. Meanwhile, farmers input costs have skyrocketed by over fifty percent in the past five years, exacerbating the situation. Experts stress the importance of building up the domestic cattle herd for long-term price relief, despite increased beef production and external factors like tariffs and infections.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.