Why Are Beef Prices Soaring?

Rows of fresh cut beef in the coolers of the retail section at the Wight's Meat Packing facility in Fombell, Pa., on June 16, 2022. Keith Srakocic/File/AP Photo

First, it was eggs, and now it’s beef. Just in time for grilling season, beef prices continue to rise. And although the overall economy is contributing to the increase, other factors are at work.

With budgets already stretched, the thought of additional costs to your meal is frustrating. But how high are beef prices expected to go? And why do they continue to increase?

Americans Like Beef

Americans like their beef. From hamburgers at McDonald’s to grilled steaks, Americans have enjoyed beef for decades. And in the past, the producers could fill the beef order.