Beef sales are plunging and prices continue rising, as a global shortage of cattle undermines the meatpacking industry.
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Beef sales are plunging, but processors continue to raise prices as a yearslong cattle shortage strains the industry.
Why it matters: Constrained cattle supplies are driving up costs for meatpackers, squeezing profits, and threatening to keep burgers and steaks expensive on menus and grocery shelves.
The U.S. beef supply is shrinking, imports are rising and prices are holding near record highs — with little relief in sight.
Beef prices could increase as much as 18.3% this year due to high demand and higher production costs.
"Families are going to see $10-a-pound ground beef in the grocery store."
Sky-high beef prices are colliding with America's newfound protein obsession, while ranchers say a crippling cattle shortage will…
Domestic cattle ranchers had only 86.2 million livestock at the start of the year
Just four companies control roughly 80% of the American beef market. How does this kind of consolidation impact what you pay?
