The USDA has reported that beef prices have reached a record high this week, and are expected to increase by 100% in the coming month compared to the same period last year.
This has caused shortages of various types of meat across grocery stores, with even ground beef being subject to higher prices due to a decades-low supply.
The nation’s declining cattle herd combined with growing input costs for U.S. farms and ranches has driven wholesale meat costs up to $8 per pound, according to official data.
Analysts anticipate that this figure could reach above $10 in December as demand increases seasonally. As a comparison, beef cost around $5 per pound in 2022, which is near the ten-year average.
This rapid price appreciation means carnivores will have to double what they spent on their favorite cut just one year ago if they wish to bring it home this winter.
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In reality, meat inflation at U.S. stores may be even greater than the USDA forecast for wholesale prices suggests due to increasing labor and transportation costs.
For example, ground beef is projected to sell for $8.99 per pound next month, sirloin at $14.00 per pound, T-bone at $15.39 per pound, and ribeye at $21.99 per pound.
“Relative to other proteins, beef prices are likely to stay elevated for the next couple of years due to tighter supplies,” according to Wells Fargo Agri-Food Institute sector manager Courtney Schmidt. “All consumers will be paying more for all beef products for several more years,” added Wells Fargo’s Chief Agricultural Economist Michael Swanson.
Retailers have reported dwindling deliveries and reduced meat supplies at stores, putting ranchers in a difficult situation despite record prices.
Low rainfall in prime cattle-raising areas has caused pastures to become barren, compounding the current supply shortage and increasing costs.
This may lead to changes in food service menu items, with businesses attempting to maintain their profit margins by raising the price of burger patties and other menu items.
Fast food companies such as McDonald’s, Burger King, and Shake Shack are some of the largest buyers of meat in the U.S., but they may be required to raise prices yet again in 2024 due to these escalating costs.
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Additionally, these companies are being motivated to use more plant-based alternatives for their products as part of an effort to “reduce their environmental impact amid climate change.”
Joe Biden and his administration are waging war on the meat industry and domestic livestock. The climate change crowed are convinced that these animals add too much methane to the atmosphere. This is all part of their green plan! They would put cattle ranchers, dairymen, pig farmers and poultry farmers out of business. Of course this would also impact meat packers, butchers, grocery stores and restaurants. And lets not forget all the dairy products we enjoy. Never mind how this affects the economy or our nutritional requirements,
SHRW, your right on one aspect, while the Communist Democrats and Rinos starve off Americans they’ll be in Office enjoying all the beef, Seafood, Duck, Goose, while laughing at the starving People that they created in order to remain in power.
The Communist Democrats and Rinos are pure Evil and Demonic, they’ve proven their Hatred towards America and her Citizens. None of them have a Soul or Conceince and Not one thing is being done about it.
We all know by now that the do nothing Republicans just talk, talk, talk while holding onto enough evidence to put Millions of Americans in prison for the rest of their lives.
All Communist Democrats and Rinos should be treated like their part of Hamas and executed in the streets..!
If the American people are sitting back waiting on a miracle to happen then we can kiss America and our As*es good bye.
Place the blame where it belongs–the federal government. More specifically the bureaucracy. Where unelected individuals make the rules and the American citizens have no say!
Biden and is cronies need to stand down trying to ruin this country and its food supply. He will go down as the worst president ever and may have to do jail time for his crimes
JCE, it’s not going to happen, The do nothing Republicans are just all talk and the Communist FBI, CIA, SS, are protecting the Communist Democrats and the Anti-American Communist Muslim Barack Hussein Obama and George Soros.
Way to many people are waiting for a miracle to happen which will never happen.
With the civil war he and his group of politicians and voters of the socialist/facist bent are trying to start, he may be the very last POTUS
AMEN!!!!!!!
This is so effed up!!!! I’m a regular beef eater…… FJB and OBOZO!!!!
Jakester
Lets look at this stupidity. The Gov puts more restrictions on the cattle farms, increasing the cost to produce OUR STEAKS, they sell farm land to the chinese, and then they feed several million illegal immigrants on our taxpayer money. Now we must pay more for less meat products not only at home but also at restaurants and fast food shops. So what happens to us over all,,, electric bill goes up to cover the larger freezer we will need. ( which creates more production of electricity) the chinses make a large profit on meat, because they don’t pay the overhead expense of the GOV, and ALL THE POLITCIANS get a raise in their EXPENSE ACCOUNT to keep living the way they want at our expense. YUP BIDENOMICS, works for them and not us. Please ,, everyone vote for Trump,, he is a business man not a politician. That is what we need to run this place, plus he does it with out a paycheck !!!!
Amen to that Jakester.
This is all about Power and Control. Just like with the COVID pandemic schemes to gain power and control over the masses. Gun control is another aspect of this. Energy restrictions on people, digitalized currency, etc., etc.. This is how governments and Global Elites will try and control everything and everyone. Controlling the food supply has been used as a control method for thousands of years.
Hi, I’m Joe Biden an I approve of this message. Why? Uh, what am I doing here? Oh, I just looked away from my teleprompter is all. Bumble, mumble, Corn Pop, Jack..
I approve of the thing because, um, I did that. That’s all me, so my handlers Obama and all those other Marxists say.
I’m doing the same to fossil fuel and the border to make, duh, the New World Order great again.
Big Guy me and we the Jackass Party pigs of Animal Farm strive to rise to the top with our goal of one party rule. Off to a reeducation camp to all who gets in our way.
I’m done just like the USA is. Hey, whose hand am I to shake? No? Fine, how do I get off this stage? Dud, dee , duh, dee, duh, where’s I be without my helpers?
Sniff! Sniff! Think I smell little girl.
Of course, this is what happens when the current Leftist administration is pushing for meat alternatives and disuading beef consumption (for the health of the planet????) at the same time Americans have quadrupled their “Carnivore/Ketovore” dieter numbers.
Coincidence?
pfft…..this corrupt Govt knows what tf they’re doing.
Of course, this is what happens when the current Leftist administration is pushing for meat alternatives and disuading beef consumption (for the health of the planet????) at the same time Americans have quadrupled their “Carnivore/Ketovore” dieter numbers.
Coincidence?
pfft…..this corrupt Govt knows what tf they’re doing.
So If The Prices Keep Going Up Like They Are?-Beef Will Be Cut From My Diet-Like Half The Beef Eaters Out There!-Raise The Prices!!-Lose The Market!-Then Some Billionaire Moron Decides To Make a Claim With Its Vaccinated Synthetic Meat/Grown in a Test Tube!-Stupid Low I.Q. Morons Doing Stupid Child Mentality Ideas!-All The Fools See Is $$ Here-Just Not There!-TOO Many STUPID Imbeciles In this World!! And You really Think A Higher lntelligent Alien Race Would EVER Want To Meet Humans????Not In This Century!!