The golden Labor Day weekend has begun, but skyrocketing beef prices are leaving consumers frowning. With beef prices hitting record highs, families—including Koreans nationwide—who had planned barbecues are facing an unusually burdensome holiday. Prices nearing $10 per pound are prompting shoppers to put meat back on the shelves, while the restaurant industry grapples with significant pressure.

According to the Economic Research Service under the U.S. Department of Agriculture (USDA) on August 28, the average retail price of ground beef in July reached $6.25 per pound, surpassing the previous month’s $6.12 and marking a record high for two consecutive months. Prices for other beef cuts have also risen, with Choice-grade steaks at $13.55 per pound, boneless round roast at $7.91, all-fresh beef at $8.90, and Choice beef at $9.69, continuing their upward trajectory.

According to the latest Consumer Price Index (CPI), beef prices have surged 11.5% over the past year, with steak cuts rising by an even steeper 12% during the same period. The primary reason for the soaring beef prices is a supply shortage. The USDA reported that the U.S. cattle herd stood at approximately 86.7 million head in January this year, the lowest level since 1951. Over the past few years, severe droughts, harsh winters, and rising feed costs have forced livestock farmers to drastically reduce herd sizes, with some even slaughtering breeding cows, shaking the supply foundation itself.

Brandi Curry, a meat specialist professor at Mississippi State University, explained, “The skyrocketing beef prices stem from a decades-low national cattle herd due to droughts and other factors. This, combined with strong consumer demand and rising processing and transportation costs, is driving the continued price surge.” The Korean community is also feeling the pinch. Kim Mo (40), a resident of LA’s Koreatown, said, “Going to the beach for Labor Day and grilling beef and ribs with my family was always a joy. Just a few years ago, $100 was enough for a hearty spread, but now I can’t buy as much. I’ve had to switch to pork belly instead.”

The beef price surge is also hitting the restaurant industry hard. Lee Mo, a Korean restaurant owner in LA’s Koreatown, lamented, “Menu items like galbitang and bulgogi are becoming too costly to maintain without raising prices. I’m worried customers will stop coming due to the cost, but I can’t hold out much longer.” Experts predict it will take several years for cattle herds to recover to a meaningful level. Josh Maples, an agricultural economist at Mississippi State, forecasted, “Beef prices are likely to remain high through 2026. However, historical patterns suggest cattle numbers will eventually increase again, and prices should stabilize over time.”

An industry expert analyzed, “The current situation is not just a seasonal fluctuation but a structural issue. Consumers will likely have to turn to alternatives like pork and chicken for the time being.” Ultimately, despite the golden holiday, the U.S. beef market is reeling under the triple blow of drought, soaring feed costs, and supply chain vulnerabilities. Consumers are hesitating before purchasing meat, while Korean markets and restaurants struggle to balance profitability and customer retention.