This Michigan Food Product Hits Record High Prices…And It’s Not Eggs

One thing is for sure, groceries are at an all-time high in Michigan—or at least it sure feels that way. Most residents would agree that they are spending more but bringing less home when they shop at their local grocery store.

It's no secret that eggs are on everyone's minds right now as prices continue to soar. However, another product is being overshadowed by all the egg hype and coverage.

According to MSN, cattle prices hit an all-time high in January and have continued to climb in February. The retail price of beef is expected to average $8.25 per pound, compared to last year’s average of $7.90 per pound. Technically, beef prices have been high for years but now they just keep climbing.

CBS 42 is reporting beef prices have hit record highs across the nation and it will take years for those prices to come down.

Why is Beef so Expensive Right Now?

According to Nerd Wallet, beef prices are through the roof right now, and it all comes down to a few key things. Drought, pricey grain, and rising interest rates have made raising cattle more expensive than ever. To cut costs, a lot of farmers have shrunk their herds, some have even thrown in the towel completely. Because of that, the U.S. cattle supply is the lowest it’s been since 1951, and that shortage is driving prices even higher.

If you’re someone who follows a carnivore diet, your grocery bill is sky-high right now. Then again, if meat is the main part of your diet, you’ve been dealing with expensive grocery trips for a while.