Where’s the Beef? Fewer Cattle Points to Higher Prices Ahead

A decline in beef production due to low cattle inventory could lead to record-high beef prices for consumers, according to a market report from the American Farm Bureau Federation.

The U.S. Department of Agriculture reports beef inventory hit its lowest level since 1948 after a drought impacted large beef producing states, such as Texas, Oklahoma and Missouri, which reduced the grazing abilities of animals on their pastures and restricted the number of cattle per herd.

Read more from Spectrum News.