Meat prices are soaring and not expected to come down for a while. What you can do to save

Ground beef prices have surged 17% over the last year, pushing beef costs to near historic highs for consumers and businesses.

The price hike is affecting everyone from grocery store shoppers to restaurant owners as supply shortages continue to drive up costs.

The increase is being driven by a severe shortage of cattle, primarily caused by droughts in the Western United States that reduced available feed. Ranchers were forced to cut the size of their herds, resulting in a classic supply-and-demand imbalance as the popularity of red meat continues to grow.

Shoppers and local business owners are noticing the financial strain at checkout counters and on restaurant menus. Neal Andrews, a frequent customer at local eateries, said he typically eats one or two burgers a week but has seen his costs rise.

“Ground beef is expensive; ground beef went up a whole lot,” Andrews said.

Malik Rhasaan, a local business owner, also noted that the rising cost of meat is making it difficult to maintain operations. He said the product is “getting really expensive” for his business to procure.

Consumer Adviser Clark Howard said the current market represents a difficult time for those who enjoy beef.

“It is so ugly for us when we go to the supermarket or the warehouse club,” Howard said. “It’s really in to eat red meat again and just at the exact wrong moment for your wallet.”

To manage these costs, Howard suggested shoppers change where they buy their groceries. Data from Consumer Reports indicates that national chains like Costco and BJ’s Wholesale Club offer prices that are 21% lower than standard supermarket rates. Aldi was found to be 8% cheaper than traditional grocery stores.

Howard also recommended that consumers look for lower-priced cuts of meat rather than premium options. He suggested choosing chuck steak or items labeled USDA Choice instead of USDA Prime to save money.

“Choice cuts are not going to be the finest cuts of steak necessarily, but you will get a lower price,” Howard said.

Bulk buying is another option for families, though Howard cautioned that freezing meat can affect its quality. He noted that red meat may not taste as good after being thawed compared to when it is fresh. However, he added that if the price savings are significant enough, consumers may find the trade-off worthwhile.

For those looking to save through community efforts, Howard suggested joining a cow-buying co-op or a “cow share” program. This involves a group of people purchasing an entire cow and dividing the meat among themselves.

“They literally buy all the meat of a cow,” Howard said. “They split it up among themselves. They pay based on which cuts of the cow they want. And yes, you will save money.”

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