Beef Prices in the United States from 2020 to 2025

Between 2020 and 2025, beef prices in the United States experienced a significant upward trend, influenced by various economic and environmental factors.

Price Trends:

Ground Beef: In January 2025, the average price for 100% ground beef was $5.55 per pound, slightly down from the record high of $5.67 in September 2024. 

Sirloin Steak: The average price for sirloin steak reached $11.97 per pound in January 2025, marginally below the November 2024 peak of $12.01 per pound. 

All Fresh Beef: In July 2024, the all fresh retail value of beef was estimated at $8.15 per pound, marking the first time the national average surpassed $8. 

Contributing Factors:

• Supply Chain Disruptions: An outbreak of New World screwworm in Mexican cattle led to a temporary halt in imports, reducing beef supply in the U.S. 

• Drought Conditions: Severe droughts diminished grazing resources, forcing ranchers to rely on more expensive feed options. 

• Tariffs: In early 2025, the imposition of 25% tariffs on imports from Canada and Mexico further exacerbated food inflation, impacting beef prices. 

Market Outlook:

• Production Forecast: Despite challenges, projected beef production in 2025 is expected to reach 26.565 billion pounds, an increase of 775 million pounds from previous estimates, due to larger cattle supplies and heavier slaughter weights. 

• Price Projections: Wholesale beef prices are predicted to rise by 4.6% in 2025, with a prediction interval ranging from -11.3% to 24.4%, reflecting ongoing market volatility. 

In summary, from 2020 to 2025, U.S. beef prices have been on an upward trajectory, influenced by environmental challenges, supply chain disruptions, and economic policies. Consumers and industry stakeholders should anticipate continued fluctuations in beef prices as these factors persist.