CattleFax analysis finds 75% of the U.S. beef cow herd is currently in drought conditions — vs. a 20% long-term average — with ranchers unable to rebuild herds, keeping beef prices in a historically elevated range through at least 2027.

CBS News reports beef prices are 12.1% above year-ago levels with USDA forecasting a further 6–18% increase for 2026, directly attributing supply contraction to drought-driven herd culling that pushed U.S. cattle inventory to its lowest since the 1960s.