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Why Beef Prices Will Rise 15% in 2023 and How We Should Respond

As a new year quickly comes and goes, let's pray together for a brighter 2023.  

Because the droughts are still lingering and with little to no moisture so far this year, beef prices will rise...and sharply. “...beef prices are expected to increase another 15% and remain high until 2025.”

Here’s why.

In 2022, the costs to produce beef have skyrocketed with no relief in sight.

In 2014, cattle harvesting for one whole beef was $700. This "modest" number included the slaughter fee, processing and vacuum sealed packaging.  In 2022 the price for one beef, same weight and cutting card, was a whopping $1707!

“Production expenses were also estimated up $70 billion, or 19%, to a record $442 billion in 2022. Costs for feed, fertilizer, chemicals and fuel to maintain pastures are expected to stay elevated in 2023.”

And unfortunately most of these input costs are fixed, meaning there's really no way to get around them.

Just to help you get a visual, here’s an alarming cost comparison between 2022 and 2014, a difference of less than a decade.

For 260 days, cattle feed for one animal was merely $245 back in 2014.  Last year in 2022, it was $1268.

During that same timeframe:

  • Bred Cow in 2014 $1400;In 2022 $2300
  • Fuel cost in 2014 $3.90; In 2022 $5.30
  • Cold storage $120 per month in 2016; In 2022 $850 per month

“This is due to several factors from general inflation, which in June climbed to 9.1% — the highest since November 1981 – to labor, fuel, supply chain issues and a drought impacting Texas and midwestern states.”

Yes, last year was extremely tough on producers and consumers. 

But thankfully over several decades we’ve developed our cattle genetics to flourish during harsh weather conditions.

Producing low maintenance cows that bred back annually essential to our beef program.  We must produce low input cows and bulls with high conception rates, if there’s any chance to salvage our bottom line and continue to produce high-quality, all natural beef.

We continue to persevere because the vision will never change. 

Building Better Beef will always remain the goal of NRPB and cattle producers like us.

If we don’t have food for our cattle to eat, then we can't build the most natural and nutritious protein on earth.

So how do we ensure our local ranchers, farmers and community flourish? 

We connect with one another.

We link arms and work on this together.  Because our goals are aligned.  Locally sourced food means lasting health for our loved ones. 

The message is simple: no farmers, no food.

Because we're all on a mission: to see our children and grandchildren grow up on a healthy, thriving planet...with real food.

Read this article for more detailed info on the rising beef prices.

And join the beef fam for exclusive sales, beef industry info, and more!

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