Story perspectives

Global Meat Prices Surge Amid Drought and Disease

7/26/2025

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Summary

Global Meat Price Surge

U.S. beef prices have risen sharply, averaging $9 per pound, an 11% increase from last year due to drought and diseases.
Türkiye experiences a significant affordability crisis, with red meat prices nearly three times the global average, rising 1,200% over five years.
South Africa's meat prices reach a 25-month high, with stewing beef increasing by 21.2% due to foot and mouth disease.
Inflation impacts food costs broadly, with vegetables and fruits seeing double-digit price hikes, while dairy prices have slightly declined.

Summary

Silver Adjusts Cheesesteak Prices

Ken Silver, president of Jim's South St. in Philadelphia, may increase his $13.49 cheesesteak price due to rising beef costs.
The restaurant, a local staple since 1976, contends with inflation and supply chain challenges.
Silver is exploring a "market price" model to adjust menu prices according to ingredient fluctuations.
Despite a 50% price hike since reopening in 2024, he remains committed to quality amid economic pressures.

History

Historical Context

The 1973 oil crisis triggered significant inflation in the U.S., with beef prices soaring by 50% within a year due to rising grain costs and increased demand. Today, beef prices average $9 per pound, reflecting similar inflationary pressures exacerbated by drought and disease. This historical context highlights a shift in consumer behavior, prompting restaurants to adopt flexible pricing models to manage volatile ingredient costs.

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Global Meat Price Surge

U.S. beef prices have risen sharply, averaging $9 per pound, an 11% increase from last year due to drought and diseases.
Türkiye experiences a significant affordability crisis, with red meat prices nearly three times the global average, rising 1,200% over five years.
South Africa's meat prices reach a 25-month high, with stewing beef increasing by 21.2% due to foot and mouth disease.
Inflation impacts food costs broadly, with vegetables and fruits seeing double-digit price hikes, while dairy prices have slightly declined.

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