Outlook for Beef Demand

By James Mitchell

Beef prices are much higher this year and are expected to increase over the next several years as U.S. beef production decreases. Data from the U.S. Bureau of Labor Statistics shows All Fresh Retail Beef prices averaging $8.48 per pound through July 2025, up $0.53 per pound from the same period last year. Understandably, higher beef prices have raised ongoing concerns about consumer demand, a topic that comes up frequently in cattle market discussions and Extension meetings.