Ohioans are feeling the pinch at the grocery store as beef prices hit record highs, and there’s no sign of relief in sight.
Ground beef has jumped by 11.5%, while steak prices have risen 12% compared to last year, according to the latest Consumer Price Index data from the Bureau of Labor Statistics.
Industry experts say the cause is a simple case of supply and demand. Elizabeth Harsh, executive director of the Ohio Beef Council, attributes the price hikes to a shortage of cattle and severe weather.
“Cattle herds nationwide are at an all-time low, and it’s showing in central Ohio and across the state,” Harsh explains. The beef industry is also seeing unprecedented demand, with Harsh noting that consumer interest in beef is the highest it’s been in 40 years.
Despite the higher prices, demand continues to climb. “Even as beef prices rise, people are still buying,” Harsh says. “Consumers want beef, and they’re willing to pay for it.”
For Ohio’s local butchers, the situation is a mixed bag. David Smith, owner of Bluescreek Farm Meats and Market, has been in the business for over three decades.
While he raises much of his own livestock, he knows many retailers are feeling the squeeze. “It’s tough for those who don’t raise their own meat,” Smith says. “You’ll see a lot of them closing down.”
Even Smith isn’t immune to the rising costs. “The bottom line is getting slimmer,” he says, noting his customers are paying up to $4 more per pound for beef than before.
To offset the price increases, experts suggest consumers turn to chicken and pork, which are more affordable alternatives. Smith also recommends stretching meals with ground beef or less expensive cuts.
“People always have to eat,” he says. “They’ll find ways to make meals last, like marinating different cuts or using ground beef in creative recipes.”
Unfortunately, prices aren’t expected to drop anytime soon. As we approach winter, experts warn that prices could rise further due to fuel costs and other factors.
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