Rising beef prices are changing the way Americans plan their Fourth of July cookouts. With ground beef prices up 19% from last year and fresh beef prices up 13%, many are opting for alternative proteins like chicken and pork.

Beef Prices Hit Record Levels

The U.S. cattle herd is the smallest in 75 years, leading to higher prices. The U.S. Department of Agriculture forecasts a 12.1% rise in beef and veal prices for the full year. Chicken and pork prices, on the other hand, have remained relatively steady.

To adapt to the higher beef prices, consumers are getting creative with their menus. Some are swapping beef for chicken or pork, while others are stretching their beef budgets by making smaller burgers or using cheaper cuts of meat.

Changing Consumer Behavior

While overall beef consumption is still high, there are signs of a shift in consumer behavior. Beef sales are up 8% year over year in terms of dollars, but beef unit sales are down 4%. This suggests that consumers are buying less beef, but at higher prices.

Tyson Foods reported a 13.1% decline in beef sales volumes in its most recent quarter, while chicken volumes rose 1.7%. This trend is expected to continue, with the U.S. Department of Agriculture forecasting higher beef prices for the rest of the year.

Original reporting: KTBS 3 (Shreveport) — read the source article.