Beef Prices Surge While the Cattle Industry Crumbles It’s not just your morning omelet getting more expensive. If you’ve been to the grocery store lately, you’ve probably noticed that beef prices are climbing at a brutal pace. And according to industry insiders, things are only going to get worse. The Labor Department’s latest numbers show that in January, beef and veal prices surged 5.5%, dwarfing the already painful 1.9% increase in overall grocery prices. This isn’t just inflation—this is a full-scale collapse in beef supply. Courtney Schmidt, a sector manager at the Wells Fargo Agri-Food Institute, says this crisis is due to historically low cattle inventories in the U.S., coupled with unrelenting consumer demand. Translation? The country is running out…
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