US Ground Beef Hits Record $7.10 per Pound as Prices Jump 9% YoY
Average US ground beef prices rose 9% year over year in July to a record $7.10 per pound, while steak reached $13.10 per pound. Beef sales volumes slipped as consumers pulled back.
US retail beef prices continued to set records in July. Average ground beef rose 9% year over year to $7.10 per pound, while steak prices climbed 10% to $13.10 per pound.
Since December 2019, ground beef has surged 65% and steak prices are up 70%. The rising costs are now showing up in demand: beef sales volumes fell 0.3% year over year over the 13 weeks ending mid-July.
That compares with growth of 5.4% in the same period of 2025 and 4.6% in 2024, marking a sharp reversal as American consumers reduce beef purchases amid rapidly rising prices.
Source: The Kobeissi Letter