Cattle ranchers believe that beef prices will remain high as inflation, high energy prices and droughts are making it more expensive to raise cattle, according to Reuters.
While grain prices have fallen as Ukraine’s exports have returned to the global market, the price of feed remains higher than it was last year, according to Reuters. This, combined with a decline in the number of cattle available for slaughter, is raising the cost to slaughter cattle, leading to a 10% increase in ground beef prices compared to last year, Reuters reported.
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