Beef prices are up, including ground beef, which is 12% higher than this time last year. Experts don’t think the prices will drop anytime soon. While it’s not good news for shoppers, it is beneficial for the agriculture industry, one of the top industries in Oklahoma.

A lot goes into the cost of beef, including supply and demand, imports and tariffs, higher costs for ranchers on things like feed, and much more.

State of Cattle

Part of the reason for the higher cost of beef is the lower supply. Due to smaller herds, the Tulsa Stockyards says 10 million fewer head of cattle are moving through their auction compared to five years ago. Right now, the price of cattle at auction is more than $4 per pound.

Historical Beef Prices

Mostly because of drought, the inventory of cattle is at its lo

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