Overview
- Retail beef hit a record $9.64 per pound in April, a 13% year‑over‑year jump reported by the USDA that has squeezed margins for meat‑heavy restaurants.
- Wholesale benchmarks have climbed sharply, with steak up about 17% to $13.02 per pound and ground beef near a record $6.90 per pound, according to Federal Reserve Bank of St. Louis data.
- The national cattle herd has fallen to roughly a 75‑year low after years of drought, higher feed and labor costs, and shrinking ranch land, reducing supply availability.
- State and federal authorities have opened probes into the four dominant meatpackers over pricing and market conduct, while the White House has paused planned executive steps such as broader temporary tariff relief as policymakers debate responses.
- Restaurants from Texas to South Florida are raising menu prices, limiting brisket availability or closing outright, and industry experts warn herd recovery and expanded processing capacity will take years, not months.