Photo: WBZ NewsRadio
HANOVER, Mass. (WBZ NewsRadio) — If you’re a fan of a good steak on the grill, it has likely cost you more than in previous summers. As the price of beef continues to soar, some shoppers have changed their grocery lineup.
The price of beef is up 9 percent since the beginning of the year (nearing $10 a pound in many places), which has influenced many shoppers’ grocery purchasing habits.
“I’ll see what the prices are and if that means if I’ll have to cut back on how much meat I’ll eat,” Christine from Norwell said, while shopping at the Market Basket in Hanover.
When asked if the price of steak is just too high at the moment Christine said “exactly.”
Industry analysts say cattle inventory shortages are dragging on the industry and causing prices to soar. According to the USDA, U.S. cattle inventories are expected to reach a low point in the cattle cycle in 2025 with a total inventory of 86 million head, which would be the lowest cattle inventory since 1951.
“I may not buy it as much as I have in the past," another shopper said.
Unfortunately, there’s no sign of beef prices going down anytime soon. The USDA also says the beef prices are expected to peak in 2026.
WBZ NewsRadio’s Jim MacKay (@JimMacKayOnAir) reports.