# Beef Prices Are High. Here’s Why.

> Beef prices remain high because of a shrinking cattle supply and years of drought that raised the cost of raising cattle. Ground beef prices are up more than 20% since 2020 and could reach record highs.

- Date: 2023-06-14 · published 2023-06-14T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/35437-beef-prices-are-high-here-s-why
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

A tight cattle supply keeps retail and wholesale beef prices elevated, supporting live cattle values through the summer.

## Read by commodity

- LCATTLE: bullish ▲

## Sources

- wsj.com: https://www.wsj.com/story/beef-prices-are-high-heres-why-a28ca6df

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