American consumers are continuing to face elevated beef prices amid an ongoing cattle shortage, which is also hitting the bottom line of major meatpacking companies.

The U.S. cattle herd is at its lowest level in over 70 years due to drought reducing forage areas in key ranching regions, which forced ranchers to liquidate cattle.

Ranchers are also facing higher operating costs for feed, labor, fuel and equipment, while some live cattle imports have also been constrained due to concerns over diseases affecting livestock.

CATTLE HERD ‘FIX’ IS TAKING YEARS LONGER THAN PREDICTED, CEO WARNS AMID HISTORIC BEEF SHORTAGE

Beef prices have risen 11.8%…

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