U.S. Beef Prices Surge as Cattle Herd Hits 50-Year Low

A sharp decline in America's cattle supply is pushing beef prices sharply higher. The national herd has fallen to its smallest size since 1973, causing a nearly 15% jump in costs over the past year. This sharp price increase is straining businesses and consumers. Stephen Boyer, who has owned The Country Butcher shop in Connecticut for four decades, says the current market is deeply concerning. "The cost is getting hard for everyone," Boyer explained. He notes that wholesale prices are rising faster than many shops can adjust. The core issue is a multi-year drought that reduced cattle feed. This forced ranchers to shrink their herds. With fewer animals, supply is tight and prices are up. Experts see no quick fix. It takes years to rebuild a cattle population. For now, shoppers should expect higher prices at the meat counter to continue.