Summary: Mostly because droughts in the places that raise beef have forced ranchers to sell off their herds (so supply is less than demand), but also because of grain prices and tariffs. Cattle are slow-growing so prices are expected to stay high for a few years.
Summary: Mostly because droughts in the places that raise beef have forced ranchers to sell off their herds (so supply is less than demand), but also because of grain prices and tariffs. Cattle are slow-growing so prices are expected to stay high for a few years.
Since this news is coming from CBS i’d just as likely think it was price-gouging.