Tight cattle supplies and steady demand push prices higher, but what could that mean for producers and consumers?

Record-high beef prices are reshaping summer menus as Americans look for affordable alternatives to a longtime staple.

The basic reason is straightforward enough. The US cattle herd is the smallest it’s been in decades, squeezed by drought and high feed costs. Demand for beef, meanwhile, has held up.

Consumers have a bone to pick with the beef industry. According to the Consumer Price Index, the average price of ground beef is about $6.74, and the average price of all uncooked ground beef is $6.90. That’s a significant 19.8% increase and a 15.7% ...

Colin Garn, co-owner of Eaton Meats in Charlotte, says his shop is feeling the pain. “We don’t even make any money on beef. If it wasn’t for chicken and pork and our fish here, we wouldn’t even really be able to operate,” Garn said. Garn says the price surge is thanks in part to a 75-year low in the U.S. cattle herd.