Beef Prices Hit All-Time High as Ranchers Face Rising Costs
With U.S. cattle herds shrinking and input costs surging, beef prices are climbing fast—leaving both consumers and ranchers feeling the squeeze.
A Steak and a Struggle: Why Beef Costs Are Soaring
In April, the average cost of ground beef hit $5.80 per pound, a record according to the Bureau of Labor Statistics. That’s nearly 50% more than five years ago, and it’s only expected to go higher.
Behind the butcher counter, ranchers like Stephen Kirkland are caught in a financial tug-of-war. The cost of one steer jumped from $1,500 to $2,400 in just a year. Feed, land, transportation—all up. Kirkland, who also runs two butcher shops, says there's little choice but to raise prices to stay afloat.
And the crisis goes deeper. U.S. cattle herds are at their lowest numbers in over 70 years, squeezed by drought and high upkeep. For rancher Kim Radaker Bays, it’s a math problem: if a cow isn’t pregnant, it’s likely headed for market. "It just costs too much to feed them," she says.
The USDA expects prices to keep climbing through 2025. For now, there's no clear ceiling on how high they’ll go—only a tough balance for ranchers and families alike.