The beef industry, just as it was going through the pandemic, was also going through one of the worst droughts in the US that we have ever had in the last 100 years. This has led to suppliers liquidating their cow herd, resulting in tighter beef supplies and sharply increasing prices.
Consumers may not see lower burger prices until 2027 or 2028, as beef supplies could potentially recover by that time, depending on environmental factors and herd rebuilding.
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