Beef is becoming a luxury as prices stay at record highs. They likely won’t come down until 2028, says Farm Bureau

Beef prices in the U.S. remain at record highs, with ground beef reaching $6.90 per pound in April and steaks averaging $12.80 per pound in May. The American Farm Bureau Federation predicts prices will stay elevated until 2028 due to a 75-year low in cattle inventory caused by drought, high interest rates, and rising production costs, combined with surging consumer demand for protein-rich diets.