Beef prices will go lower, and this is why

Beef and pork consumption have been on a steady decline in the US for the last decade, while chicken consumption has increased. In the past decade beef has become more expensive, and thus the consumption decreased with about 15% from 2006 to 2015.

But now the USDA anticipates a price decline thanks to feed prices which are dropping, and the drought, has eased up slightly, and the ranchers’ cost of raising cows is falling.

With cheaper imput prices, ranchers can raise more cows and send more beef out to the market, thus increasing the amount of beef on the market, which should lower the cost of beef by about 10 percent, the USDA predicts.