Why has the price gone up? It's the law of supply and demand. America's beef cattle herd is the smallest in 75 years, in part because of drought. But Americans' love of hamburgers and steaks has kept demand strong until recently. In July, the U.S. Department of Agriculture continued to record a shrinking number of U.S. cattle and calves, forecasting that beef production would decline 4% over this year and another 2% in 2026.
Trader Joe's is in growth mode, adding 30 new locations that will push it past 600 stores nationally. The expansion-spanning California, Texas, New York, Oklahoma, and more-is a striking contrast to the wave of retail closures hitting other chains.
The average price of a pound of ground beef rose to $6.12 in June, up nearly 12% from a year ago. The average price of all uncooked beef steaks rose to $11.49 per pound, an 8% increase.
