Beef Prices to Rise This Summer
Just as the summer grilling season is heating up, beef supplies across the country are down, meaning it might cost a little more to host that backyard party. In fact, the number of beef cattle in the United States is reportedly less than 30 million—the lowest number since the early 1960s. And when numbers go down and feed prices go up, consumers end up paying more at the grocery store.
“In the interest of telling the whole story, productivity has also increased since that time,” said University of Kentucky College of Agriculture economist Kenny Burdine. “But, the combination of fewer cattle over the past several years and generally strong export markets has left beef supplies relatively tight.”