U.S. ground beef prices may surge to $10 per pound by mid-2026 due to a historic cattle shortage and rising costs.

Ground beef prices in the U.S. could rise nearly 60% by mid-2026, potentially reaching $10 per pound, due to a 70-year low in the cattle herd, high feed and interest rates, droughts, and strong demand. Omaha Steaks CEO Nate Rempe warned the supply-demand imbalance will strain household budgets for years. While imports from Brazil and Argentina may help, they are limited. Former President Trump called for a Justice Department probe into possible price-fixing, but experts say non-tariff factors are the main drivers.