US beef prices hit record, pushing July 4 grilling costs higher

Lean and extra‑lean ground beef reached a record $8.62 per pound in May 2026, inflating the cost of a typical July 4 barbecue for ten people to about $161, a 2.4% rise from a year earlier. The surge stems from a shrinking U.S. cattle herd—86.2 million head as of Jan. 1, down from 86.5 million the year before—combined with drought, wild‑fire‑driven feed‑cost hikes and an animal‑health issue. The USDA’s Animal and Plant Health Inspection Service halted live‑cattle imports at southern border ports because of a New World screwworm outbreak in Mexico and a recent detection in Texas. President Donald Trump has urged low‑tariff Argentine beef imports and called for a Justice Department probe into possible meat‑packer collusion.

Historical comparison shows beef was cheaper in the 1960s after inflation adjustment: ground beef averaged $5.07 per pound and porterhouse steak $9.81 per pound, versus today’s $6.75‑$28.26 range depending on cut and source. The price rise is prompting shoppers to shift toward chicken and pork for holiday grilling.