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Factors Behind Record US Beef Prices
Record-high US beef prices are driven by a significant cattle shortage caused by drought and disease, with the US having fewer cattle than since 1951. Farmers like Eric Gropper are receiving record prices for their calves but face rising costs for feed, equipment, and water, limiting their profit. Despite high retail prices, meatpacking companies are struggling with losses due to the high cost of cattle and low processing capacity, while restaurants and supermarkets face limits on price increases. The overall supply chain is generating extra revenue at each stage, but losses and high costs mean no one benefits financially in the end.
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