Nate Rempe attributes soaring beef prices to a 75-year low in domestic cattle herds
Nate Rempe, President and CEO of Omaha Steaks, reports that the United States is currently facing a historic cattle shortage, with the domestic herd reaching its smallest size in 75 years. This supply crunch, driven largely by persistent drought and high feed costs, has caused retail beef prices to climb significantly, with Choice beef rising approximately 23% since August 2024. Experts indicate that rebuilding the shrinking herd will be a slow process, with meaningful recovery expected only by 2028 or 2029. In response to high costs, some consumers are shifting toward more affordable protein sources like chicken and pork, or seeking out imported beef from Brazil. Tyson Foods has also begun reshaping its beef business by closing facilities in Illinois and Utah to manage the supply constraints. While ground beef remains a popular staple, the widening price gap between beef and poultry suggests that consumers are increasingly making intentional choices based on price labels rather than habit.