Beef Prices Surge as U.S. Cattle Herds Reach Historic Lows

U.S. cattle herds have decreased to their smallest size since the early 1950s, leading to a 15% increase in beef prices at grocery stores over the past year. Bloomberg posted on X, highlighting the impact of reduced cattle numbers on consumer costs. The decline in herd size is attributed to various factors, including drought conditions and economic pressures faced by farmers. As a result, consumers are experiencing higher prices for beef products, affecting household budgets and food industry dynamics. The situation underscores the challenges within the agricultural sector and its ripple effects on the economy.