- Retail beef prices in the U.S. are at record highs, pushing up prices of beef-based products from burgers to steaks and steak tartare.
- That’s largely thanks to a shrinking cattle supply, as well as higher input costs, market watchers told CNBC. And they don’t expect it to ease any time soon.
- Cattle herds in the U.S. have been reduced to their “smallest number in decades” as a result of prolonged drought in key cattle ranching states like Texas and Kansas, a Wells Fargo analyst said.
How would you like your steak? Maybe rare, medium, or well done — but certainly not more expensive.
Retail beef prices in the U.S. are at record highs, pushing up prices of beef-based products from burgers to steaks and steak tartare.
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