U.S. beef prices have hit record highs, with ground beef averaging $6.12 per pound in June 2025, up nearly 12% from last year. Steaks also increased, averaging $11.49 per pound. A significant factor is the declining cattle inventory, which stands at 86.7 million, the lowest since 1952. While inflation exerts pressure on grocery budgets, the food price rate was only 2.7%. The cattle cycle, influenced by droughts and feed prices, also plays a crucial role in shaping beef market dynamics during the summer grilling season.
The average cost of a pound of 100% ground beef in June 2025 was $6.12, marking a nearly 12% increase from the previous year and a record high. Steaks, including sirloin and round, averaged $11.49 a pound, up from $10.64 in 2024.
The U.S. had 86.7 million head of cattle as of January 1, 2025, the lowest number since 1952, contributing to rising beef costs despite being the world's largest producer.
Inflation impacts grocery budgets with a 12-month rate of 2.7% including food prices, which is far less than the rising costs of beef during the summer grilling season.
The cattle cycle, typically lasting eight to 12 years, means everything from weather patterns to animal feed prices can profoundly impact herd sizes and market prices.
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