(ProsperNews.net) – Cattle production figures are the lowest for decades, and farmers are warning of an imminent rise in the cost of meat prices. American farmers are producing a billion pounds less beef than just one year ago, according to the National Black Farmers Association President, who told Fox News that the government must invest in the industry or continue “hurting” beef farmers. He accused the Biden administration of “not paying attention” and said Americans will pay the price in the grocery store.
In January, the US Department of Agriculture (USDA) reported that the nation’s total cattle herd is 87.2 million, down 2% from last year and the lowest in 73 years. Economists say the problem has several sources, including growing production costs and inflation, which are placing pressure on both producers and consumers.
American Farm Bureau economist Bernt Nelson said drought had also contributed, saying it prompted farmers to sell more cattle, especially female cattle, leading to the lowest calf crop in 76 years. Mr. Nelson predicted record-high prices of beef through 2024 and 2025.
The country’s largest beef-producing states, Texas, Nebraska, California, Kansas, and Oklahoma, have all experienced weather drought over the past three years, exacerbated the crisis. “We saw drier and warmer temperatures in some of the most highly concentrated areas of livestock production in the United States,” Mr. Nelson said.
In California in 2022, farmers reported that drying land left them with less space to raise cattle. Many farmers responded by culling herds, leaving fewer for future production and adding yet more cost pressure to the struggling industry. By March 2022, the price of steaks had shot up by almost 17% on the previous year and continued to rise until hitting a record high of $10.23 per pound in November.
Since then, prices have continued to climb, and figures from the US Bureau of Labor Statistics show steaks have increased by 181.6% since 1997, from $20 to $56.33 per pound.
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