"Since the price of steak has risen more than 40% since 2020, according to Visual Capitalist, that may seem like a safe assessment. But one reason prices are so high is simple supply and demand - people still want steak for dinner, special treat or not. But even though beef is increasingly in demand, U.S. cattle herds have diminished in size and drought has hurt supply - thus driving higher prices."
"The gold standard is to support your local farm or rancher. Buying from the source means reinvesting in growing herds, boosting supply, and ultimately, driving down costs. That said, if you're unable to source from your local farmer, there are a multitude of options at the grocery store. You can still snag quality steaks if you know where to look."
Steak prices have risen more than 40% since 2020, driven by high consumer demand and supply constraints. U.S. cattle herds have diminished in size and drought has further reduced beef supply, contributing to higher retail prices. Buying directly from local farms or ranchers reinvests in growing herds, boosts supply, and can ultimately lower costs. Grocery stores offer multiple options for quality steaks when local sourcing is unavailable. The national grocery-store average price is $12.26 per pound, reflecting a mix of premium and lower-end cuts and varying regionally. Price comparisons across stores reveal where cheaper cuts can be found. Prices may vary by region and date.
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