Beef, that all-American food, is getting harder for Americans to afford

TL;DR

Ground beef prices rose nearly 16% in the last year to $6.70 per pound in March.
Beef steak prices also increased by 16% over the same period.
Experts forecast that beef prices will remain high throughout the remainder of the year and potentially into the next.
The U.S. Department of Agriculture estimates beef prices could climb between 10% and 18% in 2026.
The main driver of high beef prices is a significant reduction in the U.S. cattle herd, with the number of beef cows falling to levels not seen since the 1960s.
Drought conditions, increased feed costs due to global conflicts, and the long gestation period of cattle contribute to supply shortages.
Despite higher prices, consumer demand for beef remains strong, with unit sales down only slightly while dollar sales have increased.
A potential positive sign for future supply is ranchers increasing the number of female beef cows, indicating a focus on herd replenishment.

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