Overview

• Average retail prices in July reached about $6.25 per pound for ground beef and $11.87 for steaks, up from $5.49 and $10.85 a year earlier, according to federal data.
• USDA figures show the U.S. cattle herd fell roughly 1% from 2024 to 2025, with drought and high feed costs limiting production.
• The U.S. suspended cattle imports from Mexico this year due to screwworm, and tariffs have increased costs on imported beef that would supplement domestic supply.
• Shoppers describe shrinking portions and scaled-back holiday gatherings, while small retailers report tighter margins and warn of potential closures.
• Industry sources see little short-term relief as rebuilding herds could take two to three years, even as consumer appetite for beef remains strong.