Hey fam, noticed your weekly BBQ bill hiking? US retail beef prices soared to an all-time high in July, jumping over 10% compared to last year – way above the 2.7% August inflation rate. 😲
What's cooking? A shrinking cattle herd. Ranchers are sending fewer cows to market, tightening supply. Think of it like your fav local street food stall suddenly running low on ingredients – prices go up! 🌯
But here's the kicker: consumers are still all in. Despite steeper tags, beef remains a staple for many households and foodies. From backyard BBQs in the US to wagyu bowls trending on TikTok, demand hasn't slowed. 🍽️🔥
Experts say weather, feed costs, and herd recovery cycles play a role. Building back a cattle herd takes time – cows need to grow up, after all! ⏳ So until supply catches up, expect those steak dinners to cost a bit more.
Whether you're hosting a rooftop party in Manila or grilling kebabs in Karachi, keep an eye on the sizzle and your wallet. For now, the beef market is all about high prices, tight supply, and hungry consumers. Stay tuned for more updates! 📈🐂
Reference(s):
cgtn.com
