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First it was eggs, now beef prices are on the rise
Transcript
00:00Your next barbecue might cost you more, especially if burgers are on the menu.
00:04Beef prices are hitting records, up nearly 9% since January, now averaging $9.26 a pound, according to the USDA.
00:13Brown beef alone jumped nearly 12% in the past year, to $6.12 a pound.
00:19So what's causing prices to sizzle?
00:21Persistent drought, high feed costs, rising imports,
00:24and a recent pest outbreak in Mexico that cut off cattle shipments are all squeezing supply, just as demand stays strong.
00:32Tyson Foods' CEO recently called it the most challenging beef environment they've ever seen,
00:37but said consumer demand remains resilient and healthy.
00:41While beef prices usually cool off in the fall as grilling season fades,
00:45experts say any dip this year will likely be modest,
00:48and they warn this trend isn't cooling off anytime soon.
00:51Prices could stay elevated into 2026 and beyond.
00:56That'll do it for your daily briefing from the New York Stock Exchange.
00:58I'm Caroline Woods with The Street.

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