It’s officially grilling season in the U.S., but when it comes to one of the most beloved protein sources in the country, Americans are getting forced into difficult decisions in supermarket aisles across the country.
The average price of a pound of ground beef hit a record average retail price of $6.90 last month, up around 19% from a year ago.
Compared to the rest of the world, the U.S. might be awash with meat, but the domestic economics seem to be working against the menu item most craved by many Americans.
North America, led by the U.S., tops the world on meat available per person, according to a report published Friday by the UN’s Food & Agriculture Organization, and is the world’s second largest beef producer, behind Brazil.
But despite high prices, U.S. beef consumption has held steady. And that insatiable demand is colliding with a series of headwinds that are hurting the country’s cattle population, the costs of which have been causing sticker shock even before the latest inflation spike.
