(Epic Economist)—Being a carnivore has never been so expensive. According to the USDA, beef prices soared to another record high this week, and are expected to face a 100% increase next month compared to the same period a year ago. Steaks will likely be out of the dinner table of many Americans in the coming months as shortages already started leaving grocery shelves empty. Even cheap meats like ground beef are about to shoot up in price due to the lowest supply in decades, the Department said.
The nation’s shrinking cattle herd combined with surging input costs at U.S. farms and ranches have pushed wholesale meat costs to over $8 per pound, official data shows. Analysts predict that the figure could jump above the $ 10 mark in December due to the seasonal spike in demand. As a comparison, beef costs in 2022 were hoovering around the ten-year average of $5 per pound. The rapid price appreciation means that you will have to pay double what you paid a year ago to bring your favorite cut home this winter.
In fact, meat inflation at U.S. stores can be even higher given that the USDA forecast was for wholesale prices, not consumer prices. Adding rising labor and transportation costs to the mix, a pound of ground beef could be selling for $8.99 next month. A pound of sirloin is expected to reach $14.00, while T-bone, and ribeye, can reach $15.39 and $21.99 per pound, respectively.
“Relative to other proteins, beef prices are likely to stay elevated for the next couple of years due to tighter supplies,” according to Wells Fargo Agri-Food Institute sector manager Courtney Schmidt. “All consumers will be paying more for all beef products for several more years,” added Wells Fargo’s Chief Agricultural Economist Michael Swanson.
Retailers are already reporting leaner deliveries and falling meat supplies at stores. Ranchers, who would normally thrive on record prices, are instead struggling to maintain their business. Low rainfall in prime cattle-raising land is turning green pastures into dust fields. Limited supply and increasing costs are likely to cause changes in food service menu items. “The prices of menu items may go up, including burger patties, as businesses try to maintain their profit margins,” Wells Fargo’s Swanson said.
Fast food chains, including McDonald’s, Burger King, and Shake Shack, are some of the biggest buyers of meat in the U.S. market. In 2024, they might have to conduct another round of price hikes to offset the rising cost of beef. These companies are also being encouraged to launch more plant-based alternatives to reduce their environmental footprint amid climate change.
In other words, we will have to get used to eating meat alternatives instead of the real thing. Beef is becoming a delicacy reserved only for the bourgeoisie. For now, this crisis will continue to add pressure on ranchers, restaurateurs, and average consumers. Until cattle numbers grow, input costs decline, and the economic storm abates, Americans will be forced to either change their diets or pay the price.
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Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
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Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
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Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
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This is totally a bunch of bunk. Farmers are not killing their cattle, just because, but who is profiting from this inflation is the Meat Packing Houses. They conspire to bid lower at the feed-lot cattle auctions, and then jack the prices they charge retail stores. basically holding feed lots and farmers hostage, and we have to pay the price for that corporate money-grubbing.
Sorry, we’re not buying it J.D. most people have no idea what makes the cattle industry work in the farm-to-table production of the meat we eat. THERE IS PLENTY OF MEAT COMING FROM SOUTH AMERICA. What is happening is that the meat-packing corporations want to feed their stake and stockholders instead of feeding America with lower-priced goods. When those stockholders start dying of starvation, maybe they’ll finally get the picture.
I buy beef direct from a local ranch and after the butcher tax I pay about $6 a pound. The real benefit is knowing where it came from and that there were no hormones or chemicals used. This is the way to do it.