# Why Your Steak Is Getting Pricier

> Persistent drought has sharply reduced the US cattle supply, pushing beef prices higher. Beef production is on track for its biggest annual decline in decades.

- Date: 2023-06-01 · published 2023-06-01T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/10090-why-your-steak-is-getting-pricier
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

A shrinking cattle herd tightens beef supply and supports cattle prices throughout the chain. Feed buyers may see steady or stronger demand from feedlots as herds rebuild slowly.

## Read by commodity

- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2023-04-05 | [Here’s why beef is still pricey \| CNN Business](https://feedsoft.ai/events/10375-here-s-why-beef-is-still-pricey-cnn-business.md) | +3.3% | +0.6% |
| LCATTLE | 2024-11-11 | [Why beef prices have been rising this fall](https://feedsoft.ai/events/27540-why-beef-prices-have-been-rising-this-fall.md) | -1.1% | +1.4% |
| LCATTLE | 2023-06-07 | [Get ready for higher beef prices this summer. Here’s why. - MarketWatch](https://feedsoft.ai/events/10087-get-ready-for-higher-beef-prices-this-summer-here-s-why-marketwatch.md) | +1.7% | -1.6% |
| LCATTLE | 2022-07-20 | [Is This a Fall Pricing Opportunity for Feeders? \| Ohio BEEF Cattle Letter](https://feedsoft.ai/events/40620-is-this-a-fall-pricing-opportunity-for-feeders-ohio-beef-cattle-letter.md) | +0.1% | +2.8% |
| LCATTLE | 2021-08-13 | [How this summer's drought could have you paying high beef prices again next year \| CBC News](https://feedsoft.ai/events/45514-how-this-summer-s-drought-could-have-you-paying-high-beef-prices-again-next.md) | -0.1% | +1.0% |

## Sources

- wsj.com: https://www.wsj.com/articles/beef-prices-high-summer-barbecue-12a08905

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.