Memorial Day beef prices hit record

Fox Business and Quartz reported on May 22 that Memorial Day cookout costs are rising as U.S. beef prices head into the holiday weekend at or near record levels. Bureau of Labor Statistics data cited by Fox Business showed ground beef prices were up 14.5% from a year earlier and steak prices were up 16.1%. Quartz reported ground beef at $6.90 per pound ahead of the weekend, describing it as a record. The April Consumer Price Index also showed the broader beef index rose 2.7% from March, while food-at-home prices increased 0.7% for the month, according to the Labor Department. ### How expensive is beef heading into Memorial Day? Quartz reported on May 22 that ground beef had climbed to $6.90 per pound ahead of Memorial Day weekend. Fox Business, citing Bureau of Labor Statistics data, said ground beef was up 14.5% year over year and steak was up 16.1%. Macrotrends, which republishes BLS average price data, listed U.S. beef steak prices at $13.02 per pound for April 2026. (foxbusiness.com) FRED’s BLS series for average ground beef prices says the data are collected monthly from prices used in the Consumer Price Index and are best used to show price levels in a given month. That series is the federal benchmark behind many of the holiday-weekend comparisons now circulating in consumer coverage. ### What do the government’s inflation numbers show? (qz.com) The U.S. Bureau of Labor Statistics said on May 12 that the food-at-home index rose 0.7% in April after being unchanged in March. The agency said the meats, poultry, fish and eggs index increased 1.3% over the month, while the beef index rose 2.7%. The overall CPI increased 3.8% over the prior 12 months before seasonal adjustment. (fred.stlouisfed.org) Fox Business said other cookout staples also got more expensive. Its May 22 report said the BLS index for frankfurters was up 10.7% from a year earlier, while tomato prices rose 39.7%. The same report said chicken prices were down 0.7% over the year, including a 1.8% decline for fresh whole chicken. ### Why are beef prices so high? (bls.gov) MSN, in a report summarizing the holiday price jump, said the U.S. cattle herd has fallen to its lowest level in more than 70 years after drought and high feed costs pushed ranchers to cut back. ConsumerAffairs also said beef prices were being driven by the smallest cattle herd in decades, drought conditions and strong consumer demand. (foxbusiness.com) Those supply pressures have shown up in retail pricing for months. Quartz tied the holiday squeeze to broader financial pressure on households, while CNBC said key barbecue staples including ground beef, hot dogs and beer posted sharp price increases in the latest CPI data. ### Are shoppers switching to cheaper proteins? Fox Business said hot dogs may offer only modest relief because frankfurter prices also rose from a year earlier. (msn.com) The report said chicken was one category that got cheaper, making it one of the few proteins moving in the opposite direction before the holiday. (qz.com) KENS 5, citing WalletHub, reported that about 65% of Americans were planning to grill over Memorial Day weekend despite higher grocery bills. KSHB reported Kansas City-area shoppers were still buying beef even after prices reached all-time highs. ### What should shoppers watch next? (foxbusiness.com) The next federal checkpoint is the Bureau of Labor Statistics’ May 2026 Consumer Price Index release, which will show whether beef and other grocery prices kept rising after the Memorial Day weekend. Until then, the April BLS data cited by Fox Business and Quartz remain the main public benchmark for ground beef, steak and other holiday cookout staples. (dol.gov) (kens5.com)