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Story summary
- The U.S. cattle herd is at a 75-year low, with 11.1 million head, driving beef prices higher.
- Ground chuck prices have increased by 51% since 2020, reaching $6.63 per pound due to drought and high demand.
- Consumer demand for beef remains strong, with no notable shift to cheaper proteins.
- The USDA reports a 1% decline in cattle on feed, suggesting tighter supplies and sustained high prices if demand persists.
- Experts foresee a slow recovery in cattle numbers due to financial challenges and the lengthy herd rebuilding process.
