Darlowe Torkelson’s grocery list these days is lean — just one sirloin steak and a potato. At beef prices soaring to new peaks, even modest meals feel like a splurge.
In April, the average price for a pound of ground beef hit $5.80, marking a nearly 50% jump from five years ago, according to the Bureau of Labor Statistics.
For shoppers like Torkelson in Argyle, Texas, the ceiling on what they’ll pay remains uncertain. “I haven’t found it, I’d like to see it back down,” he said.
Behind the scenes, ranchers like Stephen Kirkland of Z Bar Cattle Company near Fort Worth are feeling the pinch.
A year ago, a steer cost about $1,500; now it’s close to $2,400. That figure doesn’t include rising expenses for feed, land, transportation, and financing—all of which are climbing like a relentless tide.
“We’re very, very conscious of how high the prices are in the meat case,” Kirkland admitted, noting his efforts to absorb the increases at his two butcher shops.
The cattle herd itself is shrinking, hitting its smallest size in over 70 years, as USDA data confirms. Drought has battered pastureland, making it tougher to keep cows fed and healthy.
Kim Radaker Bays of Twin Canyons Ranch weighs the costs carefully. “If a cow isn’t pregnant, it’s more sensible to sell it,” she explained. Feeding “open” cows without calves strains budgets without payoff.
With supply tightening and costs mounting, the USDA forecasts beef prices will continue their upward climb through 2025.
Kirkland doesn’t guess when consumers might balk at the price tag but warns, “If we want to stay profitable, to stay in business at all, you’ve got to raise prices.”
The beef market, it seems, is a slow boil—and the dinner table is feeling the heat.
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