Ground Beef Prices Rise Faster Than Steak

An article on Drovers

Since the beginning of the cattle bull market in 2022, retail and wholesale beef prices have climbed steadily. However, not all beef products are rising at the same rate. Surprisingly, budget-friendly ground beef prices are climbing significantly faster than luxury cuts like tenderloin.

According to Derrell Peel, Oklahoma State University Extension livestock marketing specialist, a combination of shifting consumer habits and a dramatic drop in cow slaughter is driving this trend.

“In general, as beef prices increase, consumers are likely to rely even more heavily on ground beef to blunt the impact of higher beef prices,” Peel explains. “This increases ground beef demand relative to other beef products.”

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