Beef Prices Soar to All-Time Highs: Up Nearly 50% in Five Years

The cost of beef shot up to an all-time peak in April – climbing nearly 50 percent compared to what it was five years prior.

As Americans consume greater amounts of protein, farmers are increasing the cost of their beef due to difficulties in raising cattle.

Based on official data from the government, the typical cost of a pound of minced beef hit $5.80 in April — setting a fresh record for the meat sector and showing nearly a 50 percent rise over the last half-decade.

Stephen Kirkland, owner of the Texas -owned by Z Bar Cattle Company, informed CBS News He was able to purchase a steer for about $1,500 last year. Steers are young castrated male cows bred for meat production. Kirkland mentioned that the cost of a steer has surged to nearly $2,400 nowadays.

He detailed all the additional expenses related to raising cattle: "\$2,400 per steer entering the feedlot, followed by feeding costs, transport fees, and every other expense associated with it."

Kirkland mentioned that his business has attempted to cover the rising costs at his two meat stores.

“But as cattle prices increase, we're left with no other choice,” he said, adding, "If we want to stay profitable, we want to stay in business at all, you've got to go up on your price.”

A Texas customer named Darlowe Torkelson, purchasing just one sirloin steak and a potato for himself and his spouse, shared with CBS News that he still hasn't determined his maximum willingness to pay for particular grocery items.

However, he stated, "I want to see it brought back down."

Even with high costs, more Americans are consuming more proteins. New York Time s reported earlier this month that "meat is making a comeback."

According to The Times, a joint report by the Food Industry Association and the Meat Institute, published in March, indicated that meat sales, encompassing beef among others, reached an all-time peak of $104.6 billion in 2024.

A different report released by the sustainable food company Cargill in April – which was also mentioned by the Times – indicated that 61% of Americans boosted their protein consumption last year, whereas only 48% did so in 2019.

Since 1986, The Independent has been advocating for beliefs we stand behind, rather than those imposed upon us, guided by principles of integrity, inclusivity, innovation, and independence.