Beef prices are at an all-time high. Here’s why it’s gotten so expensive

Ranchers no longer worry if people will eat beef—demand is the highest in history, says Mark Gardiner of Gardiner Angus Ranch. Beef is now the protein of choice globally, thanks to improved quality. Despite record-high prices—ground beef hit $5.98/lb in May, up 16% year-over-year—demand remains strong. With cattle supplies low, experts don’t expect prices to drop soon.

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