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Story summary
- Ground beef prices reach $6.70 a pound in March, up 16% from last year.
- The U.S. Department of Agriculture forecasts prices will rise over 10% in 2026.
- Cattle herds have declined to the lowest level since 1960s due to drought and rising feed costs, contributing to a price surge.
- Demand remains strong, with unit sales down 4%.
- Ranchers are prioritizing herd replenishment, which could increase supply and lower prices later.
