Record Beef Prices Persist as Drought, Pest Outbreak Squeeze Supply

Key Facts

With inflation concerns lingering, rising beef prices are adding strain on American consumers. According to the Wall Street Journal, beef prices have hit record highs due to persistent drought and the return of an invasive pest that hampers cattle herd expansion. The supply squeeze is keeping prices elevated.

This surge comes as the livestock sector faces compounding challenges, making it difficult for ranchers to rebuild herds under harsh climatic conditions. These pressures ripple through the food supply chain, contributing to broader food cost increases. While consumers bear the brunt, the industry awaits any signs of weather improvement or government intervention.