Marketplace Morning Report Why beef prices have been climbing
Jul 17, 2025
Beef prices are skyrocketing, hitting $6.12 a pound, due to a dwindling cow inventory in the U.S. Consumers are getting creative as they navigate these record highs. Restaurants are adapting menus to offer more affordable options, despite high living costs and drought-related issues. Meanwhile, retail sales rebounded in June, aided by tariff delays and rising consumer confidence. The podcast also covers speculation around the Federal Reserve's leadership and its implications for market stability.
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Rising Beef Prices and Low Inventory
- Beef prices have climbed to an all-time high, with ground beef prices up 45% over the last decade.
- U.S. cow inventory is at its lowest in over 70 years, driving price increases and forcing menu changes.
Steakhouse Menu Adapts to Prices
- Uncle Jack's Steakhouse in New York adjusted its menu by adding more affordable burger and steak sandwich options.
- Owner William Deagle shifted offerings because many customers can't afford traditional steaks.
Beef Import and Export Dynamics
- The U.S. imports more beef than it exports, mainly hamburger-quality beef from countries with larger herds.
- High-end steak cuts are sold internationally while the U.S. buys grind from abroad to meet demand.