support@headlinenews360.com.png?w=1200&resize=1200,0&ssl=1 "Beef Prices Are at an All-time High. Here`s Why It`s Gotten So Expensive")
By Anna Pope
In the past, ranchers used to worry whether people would eat beef.
That’s not a concern anymore, according to Mark Gardiner. Today, he said producers like himself are seeing the greatest demand in history.
“Beef has differentiated itself as the protein of choice, not only in the U.S., but worldwide,” he said.
The fourth-generation producer, who runs Gardiner Angus Ranch in southwest Kansas with his family, believes that’s largely because of the quality of beef consumers get today.
But even as beef prices hit record highs in May, demand does not appear to be slowing.
The average price of a pound of ground beef hit a record $5.98 in May, according to the most recent data from the U.S. Bureau of Labor Statistics. That’s a 16% increase from a year before, and with a short supply of cattle, experts say they don’t expect prices to fall anytime soon.
The smallest herd in decades
The cattle inventory in the U.S. is at its lowest since 1951according to USDA data.
Ranchers have shrunk their herds for several reasons; including inflation and the rising costs of caring for cattle. Drought throughout the Great Plains, where most of the country’s cattle are raised, also means higher feed costs for ranchers.
