Beef prices depend on a lot of factors, but customers and farmers are getting the short end of the stick.

In many parts of the US and Canada, there has been a multi year long drought that has impacted feed prices. 2021 was especially bad for huge areas, and it caused a lot of ranchers to sell off large portions of their herd. This has now caused a reduced supply with the same(or more) amount of demand. This has caused cattle prices to rise at auctions, but it’s still not anywhere close to explaining prices per cut by the sellers.

In Australia, some ranchers are considering shooting their cattle in the pastures because the feedlots and butchers are full, and they can’t afford to feed them. Cattle prices are tanking right now down there. They will be experiencing the same price swing in a year or two.

Other factors include inflation, fuel prices, and interest rates. And greed.

People still want to eat beef, and the suppliers (meat packers and grocery stores) know this. The price will stay high while people continue to pay for it. Try connecting with a local rancher and buying beef from them. 90% of the time, it is much cheaper per cut.