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Americans Pay More for Premium Beef | Business and Finance News
Description
Beef prices are soaring—ground beef up 13%, steak 16%—thanks to a decades-low cattle herd hit by drought and high feed costs. Yet Americans are still buying, especially premium cuts, treating steak as an affordable luxury. Sales surged ahead of the Fourth of July, with beef leading all food categories in dollar growth. Shoppers are prioritizing quality, hunting for labels like USDA Prime, grass-fed, and no antibiotics. While herd recovery will eventually ease prices, for now, consumers are paying up for that juicy, story-rich steak experience.
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