""Meat is having a moment," Tonsor told Fortune. Growing beef demand is part of a larger protein-frenzy in the U.S. in recent years as Americans turn to high-protein foods in an attempt to improve their health."
"Higher supply and demand are ultimately the reason for higher prices, explained Tonsor, who runs the Meat Demand Monitor, a project out of Kansas State that has surveyed the U.S. public about their preferences, views, and demand for meat every month since."
Beef prices have reached record highs, with ground beef averaging $6.70 per pound and beef steaks at $12.73 per pound. The USDA forecasts a 10.1% increase in beef prices by 2026. Contributing factors include a 75-year low in beef cattle inventory due to drought and rising production costs. Demand for beef is also increasing as Americans prioritize high-protein foods, influenced by new dietary guidelines. Supply and demand dynamics are driving the sustained high prices of beef.
Read at Fortune
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