Tornado Alley (PROG)

[sortagreen]

No asshole. I buy food. My diet doesn't consist of crawdads and grits.

AI Overview
Beef prices are significantly higher than last year, with reports showing a 14% to 16% overall increase and even higher spikes for specific cuts like steaks and ground beef. This surge is driven by a combination of factors, including record-low cattle herd sizes, drought, tariffs, and market consolidation.
Specific price increases

Overall: Prices are up roughly 14% from last year. The Consumer Price Index for beef and veal is up by 14.69% compared to one year ago.

Ground beef: Prices are up approximately 11.5% to 13%.
Steaks: Prices have surged by over 12% to 16.6%.
Beef roasts: Prices are up 18.4% since September 2024.

Reasons for the price increase

Low cattle supply:
Droughts have reduced the cattle herd to its lowest level in over 70 years, increasing the cost of feed and breeding.

Reduced profitability:
Ranches are facing lower profitability, which puts further pressure on prices.
Tariffs:
Tariffs on imported beef, such as those from Brazil, contribute to higher costs.
Market consolidation:
Consolidation in the meatpacking industry is another factor distorting the market and contributing to high prices.