Prices for the best cuts of beef are down in August, but Americans could see an increase in the next few months. 2022 has been a difficult year for many farmers and ranchers. Many in the beef industry have been grappling with a tough question: should we feed the cattle through the drought or sell the cows?
“We’re still in a drought that’s forced many ranchers to cull their herds, and cull deeply,” Professor David Anderson, an agricultural economist at Texas A&M University, said. “So, a lot of cows have moved to market, which means in the future, less beef production.”
Anderson doesn't think we'll have a nationwide beef shortage per se. However, supplies could get tight in the months ahead. In 2020, beef prices rose drastically due to the shutdowns. He doesn't expect prices to get that high, but some meat distributors are warning grocers that it's possible.