Kansas State University

Beef prices in the U.S. remain at record highs, with ground beef reaching $6.90 per pound in April and steaks averaging $12.80 per pound in May. The American Farm Bureau Federation predicts prices will stay elevated until 2028 due to a 75-year low in cattle inventory caused by drought, high interest rates, and rising production costs, combined with surging consumer demand for protein-rich diets.

Conflict in the Middle East is driving up energy prices, increasing costs for beef and propane used in backyard grills. Rising fuel and energy expenses, coupled with a shrinking U.S. cattle herd, are pushing beef prices to near-record highs, complicating summer barbecue plans.

Middle East conflict is driving up energy prices, increasing costs for beef and propane used in backyard grills. Tight cattle supply due to drought, aging workforce, and slow production cycles is exacerbating beef price hikes, with prices rising 16% in a year.