CINCINNATI — Beef prices are hitting record highs across the country, with ground beef now averaging more than $6 per pound nationwide. The price surge is expected to continue for at least two years, according to experts.
A combination of factors is driving these increases, including the smallest beef cow herd in over 60 years and rising feed costs, according to Ohio State Field Specialist Garth Ruff.
WATCH: Where you can get the cheapest beef at Tri-State groceries
Why beef prices are climbing
One of the primary causes behind the price surge is a significant reduction in cattle supply, Ruff said.
"We've got the smallest beef cow herd in over 60 years, a lot of that due to drought in 2021, 2022 in big cow calf producing states," Ruff said.
This supply shortage has created a widening price gap between beef and other proteins like pork and chicken, which has become particularly noticeable in the last six months.
"We've seen that margin between beef and pork and beef and chicken widen," Ruff said. "Whereas previously, going back to about 2015, those margins were pretty consistent. It's that big jump here in the last six months that I think has really been noticeable on the beef side."
Current beef pricing
The national average for ground beef has climbed significantly, with premium cuts seeing even steeper increases.
"Ground beef today, national average is over $6 a pound, almost $6.50; steaks, depending on the cut, over $12 on average," Ruff said.
Local price comparison
Here in the Tri-State area, I checked ground beef prices at the biggest grocers — Meijer, Aldi, Kroger and Walmart:
- Current average price: $6.75 per pound for ground beef
- Best value: Meijer at $5.49 per pound
Meijer has consistently maintained the lowest ground beef prices throughout the 11 weeks we have tracked grocery prices.
When will prices come down?
Unfortunately, consumers shouldn't expect relief anytime soon. The cattle breeding and raising process means that any supply increase will take years to reach the market.
"The thing to keep in mind is if we breed that cow or that heifer today ... we're not gonna change her gestation," Ruff said. "That's gonna be nine months, and then another 15 months to feed that animal. We're looking at two years really before we see much of a change in supply."
When asked if prices would follow the same timeline, Ruff added: "Unless some things happen that are out of our control, I look for cattle and beef prices to be relatively steady for the next two years."
What caused the cattle shortage?
The dramatic reduction in cattle herds can be traced back to severe weather conditions that affected major beef-producing regions.
"The drought in 2021, 2022 really hit Texas, Missouri, some of the plains states," Ruff said. "They had to cull a bunch of mama cows essentially out of the herd because they simply didn't have the feed to feed and maintain those cows."
Several factors are preventing farmers from rebuilding their herds despite the current high cattle prices.
"When the cattle prices are as high as they are today, there's really not a whole lot of incentive for these folks to put heifers back in the herd when every calf off the farm is worth upwards of $2,000," Ruff said.
He added that high interest rates are also discouraging herd expansion.
Money-saving tips for beef shoppers
To save money while beef prices remain high, Ruff suggests buying larger cuts and portioning them at home.
"Buying what we consider subprimal pieces of meat at some of the box stores — think about Sam's Club, Walmart, Costco, those type of things," Ruff said. "Instead of buying a package of steaks in a tray, there may be some value in buying, say, a rib roast, and then cutting steaks out of that rib roast."
Additional ways to save:
- Compare stores: Check weekly ads, with Meijer currently offering the best local value
- Consider alternatives: Look at pork and chicken options, which have a growing price advantage
- Look for less popular cuts: "There's some value in some of the cuts in the retail case that if the consumer's pretty savvy and understands how to cook those cuts, the quality of the eating experience is still pretty high, at a little bit lower price," Ruff said.
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