Beef Prices Rise to Record High Amid Tight Supply From Shrinking US Cattle Herds

Steak, roasts, and ground beef jump more than 12 percent in the United States, far outpacing broader food inflation, data show.

Meat on a shelf at a grocery store in Columbia, Md., on June 8, 2024. Madalina Vasiliu/The Epoch Times

Beef prices hit record highs in the United States and worldwide in September, with both international and U.S. markets squeezed by shrinking cattle herds and strong demand, according to new data from the U.N. Food and Agriculture Organization (FAO) and recent figures from the U.S. government.

The FAO’s global meat price index rose 0.7 percent in September from the prior month, which was 6.6 percent higher than a year earlier and the highest since records began, according to an Oct. 3 report, which pointed to surging beef prices as one of the factors behind the price jump.