Shoppers across the U.S. are experiencing sticker shock at the meat counter, as beef prices have surged to their highest level in over a decade. Ground beef, steak, and brisket prices have all jumped 12–18% year-over-year, according to the USDA.
The spike is being driven by a combination of drought conditions, feed cost inflation, and supply chain bottlenecks. Ranchers across the Midwest and Texas are reducing herd sizes due to skyrocketing input costs, shrinking beef supply at a time when summer grilling demand is peaking.
“This is the worst pricing crunch we’ve seen since 2013,” said Nathan Wyatt, a fourth-generation rancher in Oklahoma. “We’re either breaking even or losing money right now.”
Some economists are drawing comparisons to the 2023 egg shortage, which saw prices triple in just six months due to avian flu and feed disruptions. This time, the problem is less about disease and more about climate and long-term economic pressure.
Consumers are already feeling the impact, with fast-food chains and grocers raising prices or downsizing portions. Steakhouse chains like Outback and Texas Roadhouse are reworking menus to account for volatile ingredient costs.
As inflation continues to cool in other sectors, protein remains a wildcard in food economics. Analysts say beef prices could remain elevated through the end of the year unless weather and feed markets improve dramatically.
