Beef prices are near record highs heading into Memorial Day weekend, driven by the nation’s smallest cattle herd in decades, drought conditions, and strong consumer demand.
Ground beef, steaks, and brisket are all expected to cost more this year, prompting many shoppers to look for cheaper grilling options.
Pork, chicken, sausages, and plant-based proteins are emerging as budget-friendly alternatives for holiday cookouts.
Gas prices aren’t the only source of consumer pain at the unofficial start of summer. Americans planning to fire up the grill this Memorial Day weekend are finding that hamburgers and steaks are coming with a bigger price tag than usual.
Retail beef prices have climbed sharply this spring, as the U.S. cattle inventory remains at its lowest level in more than 70 years. Ranchers have reduced herd sizes after years of drought, high feed costs, and rising operating expenses, squeezing supplies just as demand for grilling season begins to peak.
The result is sticker shock at supermarket meat counters across the country.
According to industry analysts, prices for popular grilling cuts — including ribeye steaks, brisket, and ground beef — are significantly higher than they were a year ago. Ground beef, a Memorial Day staple, has seen especially strong increases because consumers continue to favor burgers even as prices rise.
Kelly Schmidt, chief executive director of the Minnesota Beef Council, said demand is simply outpacing supply.
“Our cow herd is the smallest it’s been in over 70 years. That is like the number one reason why we’re seeing a higher price, because of our supply,” Schmidt told KSTP-TV. “Our ability to make beef in this country is at a smaller level than it’s been.”
Why beef costs are rising
The high price of beef is the product of several overlapping factors.
The U.S. cattle herd has been shrinking steadily since 2019. Prolonged drought conditions in major cattle-producing states forced many ranchers to sell off animals because pastureland dried up and feed became too expensive.
Rebuilding a herd takes time. Ranchers must retain female cattle for breeding rather than sending them to market, limiting short-term beef supplies.
Feed, transportation, labor, and borrowing costs all remain elevated. Ranchers and meat processors are paying more for nearly every part of the production chain, and those costs are eventually passed on to consumers.
Strong demand
Despite higher prices, Americans continue to buy beef. Demand for burgers and steaks typically rises during the summer grilling season, giving retailers little incentive to discount products heavily during holiday weekends.
Fortunately, there are less-expensive options. Chicken remains one of the least expensive proteins available. Drumsticks, thighs, and wings can often feed large groups at a fraction of the cost of steaks or burgers.
Pork products, including chops, ribs, and pulled pork, are generally cheaper than comparable beef cuts. Pork shoulder, in particular, offers an economical option for slow-cooked barbecue.
BBQ alternatives
If you're trying to save some money this Memorial Day weekend (and beyond), there are some budget-friendly options available:
- Bratwurst, kielbasa, and traditional hot dogs continue to provide affordable grilling choices for families hosting large gatherings.
- Turkey burgers have gained popularity as a lower-cost alternative to beef burgers, while still offering a familiar cookout experience.
- Some consumers are also turning to grilled vegetables, black bean burgers, and other plant-based options to offset meat costs.
- Many grocery shoppers say they are adapting by purchasing smaller quantities of beef or mixing beef with less expensive proteins.
- Retailers are also responding with promotions focused on chicken, pork, and prepared grilling packs designed to appeal to budget-conscious consumers.