‘We’re Going to See a Notable Further Increase’

Climate-driven stress on food systems is hitting Americans in their grocery carts, again. This time, ground beef prices have jumped 10.3% since June 2024, meaning they’re topping $6 per pound, according to a Time report.

Consumers are continuing to buy beef, but issues with supply, stress on producers, and extreme weather are disrupting the market.

What’s happening?

The price of ground beef is exceeding $6 per pound, with steak up 12.4% over the same period, according to the report. This is similar to the recent steep rise in egg prices due to bird influenza outbreaks on farms.

Contributing to rising costs, herd sizes are the lowest they’ve been in almost 75 years, according to Farm Policy News, and it’s driven by drought and high feeding costs. Food economist David Ortega told Time his research estimates these pressures could keep prices elevated for up to four years.