Beef Prices Soar

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Beef prices surge to record highs, with ground beef averaging $6.86 per pound, up nearly 48% from March 2021. The U.S. cattle herd is at its smallest in over 75 years, causing supply shortages. Drought in key states like Texas and Oklahoma forces ranchers to sell off cows, increasing feed costs. Established ranchers are benefiting, but newcomers face high entry costs. The big four meat processors are blamed, though they argue retailers set consumer prices. Expect high beef prices for the next 15