Steak Prices Soar: Cattle Industry Faces Uncertainty

0:00Beef prices just hit their highest levels since the 1980s, and consumers are feeling the pinch at the checkout. Ground beef now costs $6.74 per pound, up 22% from last year, according to the latest government data. Recent military strikes by the U.S. and Israel on Iran spiked gas prices, and cattle producers are passing those costs straight to retailers and shoppers. That volatility and fuel is making everything from transport to processing more expensive right now. Industry expert Lee McGlammery shared this outlook at the Texas and Southwestern cattle raises association convention on March 27th and 4th. Worth. He says folks in the cattle business are dealing with too many unknowns, and time is not on their side in the cycle. Prices at stores will keep climbing until buyers start pushing back and cut their spending. McGlammery warns that soon there could be more cattle ready than slaughterhouses can handle, sparking shortages down the line. For now, brace for those stake prices to stay sky high while the market sorts itself out.

1:03Local news, powered by AI. This is Dallas News Today. I'm Corey with the story.