Beef prices hit a fresh record, and hopes for consumer relief are fading as drought and the reemergence of a
US consumers on average paid $7.064 for a pound of ground beef in May, slightly higher than the previous month but up 13% from a year earlier, according to the US Bureau of Labor Statistics. Prices have steadily climbed as the US cattle herd shrank to its lowest levels in 75 years, while the prospects for rebuilding supplies have deteriorated in recent weeks.
Beef prices have remained stubbornly high as ...