Over the past year, the United States has seen incredibly high inflation rates. This affects all areas of our lives, from rent to grocery prices. Beef prices aren’t left out of that equation, with the price of beef seeing a 20% increase from October 2020 to October 2021. With the uncertainty the future holds, buying your beef in bulk offers the opportunity to secure your investment and ensure your family doesn’t have to pay more than is necessary. Visit our blog to learn more about our farming practices here at Dark Hammock Legacy Ranch.
Beef Is Up Disproportionately High
While the prices of proteins have all gone up in the past year, beef is the one seeing the highest jump. Most of this issue can be traced back to the beginning of the pandemic. As restaurants shut down and uncertainty flooded the market, meat processing plants scaled back their work. This caused farmers to cull their herds and slow their production, which has an effect on products multiple years down the line.
What’s Affecting the Prices?
Now that restaurants have reopened, demand has soared. Couple that with labor shortages in meat processing plants, and we see a true imbalance in supply and demand. With farmers’ herds culled, it will take some time to get back up to speed to match the renewed demand for beef in the country. Costs of materials involved in beef production are up, too, like packaging products and nutritional supplements for cattle. This all results in higher prices for the consumer.
When Will Prices Come Down?
Many market experts believe we are nearing the end of the peak. Prices will likely come down slowly, but there is still a lot of uncertainty ahead. The best way to get good prices is to buy your grass-fed beef in bulk from a local rancher. This ensures your money is going back into the community’s supply chain and helps support a rancher, not the major suppliers of beef who drive up prices through lack of competition. Buying in bulk will save you money in the long run and ensure you come out ahead if prices continue to rise.
