Beef prices hit record highs in the United States and worldwide in September, with both international and U.S. markets squeezed by shrinking cattle herds and strong demand, according to new data from the U.N. Food and Agriculture Organization (FAO) and recent figures from the U.S. government.
The FAO’s global meat price index rose 0.7 percent in September from the prior month, which was 6.6 percent higher than a year earlier and the highest since records began, according to an Oct. 3 report, which pointed to surging beef prices as one of the factors behind the price jump.
“Bovine meat prices climbed to an all-time high, supported by strong demand in the United States of America, where limited domestic supplies and favourable price differential continued to encourage imports, especially from Australia,” the report stated….
Beef Prices Rise to Record High Amid Tight Supply From Shrinking US Cattle Herds
