There are fewer hamburgers on the grill this summer. After nearly two years of relentless price hikes, Americans are finally pulling back on buying beef. Sales are down 0.3% in the 13 weeks ending in mid-July, according to Bloomberg. This is right during Memorial Day and July Fourth, typically the strongest stretch of the year for beef demand. In each of the two previous years, volumes had grown about 5% over the same period. Meanwhile, chicken sales rose 2%.
Aaron Kaufman is one of the holdouts. The 32-year-old moved from Brooklyn to Manhattan this spring, and on his first grocery run saw beef at $8 a pound, up from $6 back in Brooklyn. He switched to chicken instead. “Every once in a while, I’ll treat myself if it’s on sale,” he told Bloomberg.
Fast-food chains have noticed too. Shake Shack‘s CFO said beef inflation should ease in the back half of the year. Burger King’s parent company expects real relief, but not until early 2027. The cattle herd remains near its lowest point in five decades, so don’t expect grocery prices to drop anytime soon.
There are fewer hamburgers on the grill this summer. After nearly two years of relentless price hikes, Americans are finally pulling back on buying beef. Sales are down 0.3% in the 13 weeks ending in mid-July, according to Bloomberg. This is right during Memorial Day and July Fourth, typically the strongest stretch of the year for beef demand. In each of the two previous years, volumes had grown about 5% over the same period. Meanwhile, chicken sales rose 2%.
Aaron Kaufman is one of the holdouts. The 32-year-old moved from Brooklyn to Manhattan this spring, and on his first grocery run saw beef at $8 a pound, up from $6 back in Brooklyn. He switched to chicken instead. “Every once in a while, I’ll treat myself if it’s on sale,” he told Bloomberg.
Fast-food chains have noticed too. Shake Shack‘s CFO said beef inflation should ease in the back half of the year. Burger King’s parent company expects real relief, but not until early 2027. The cattle herd remains near its lowest point in five decades, so don’t expect grocery prices to drop anytime soon.