WACO, Texas (KXXV) — Beef prices are rising across the country, and local butcher shops in Waco are feeling the squeeze from both ends — higher wholesale costs and customers watching every dollar.
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At Waco Custom Marketplace, Manager Kevin Bettge said the shortage driving those prices is straightforward.
"We just don't have enough cattle to meet the demand that they're looking for right now," Bettge said.
If you've walked up to the meat counter lately, you've probably noticed that steaks, roasts and even hamburger meat are carrying higher price tags. Bettge said his shop is doing what it can to protect customers, but there's only so much he can absorb.
"We don't get a discount on the beef so if prices do go up, we have to go up as well. Now we try to do as less as possible to help the customer, but at the same time we're kind of at the mercy and we've got to go up as well," Bettge said.
The problem stretches far beyond Waco. The U.S. cattle herd is at its lowest level since the 1950s, driven by years of drought, high feed costs and ranchers cutting back supply — even as demand has continued to climb.
Financial strategist Bill Dendy said the timing of those cutbacks made the situation worse.
"That's created the smallest herd we've had in the United States in 70 years because everybody cut at the same time, but demand continued to rise and people still want to eat their steaks," Dendy said.
The numbers tell the story. Dendy said a pound of beef has jumped from $7.65 in 2020 to $12.50 today. That's a 63% increase.
"Hamburgers are costing more this summer. It is true," Dendy said.
Despite the pressure, Bettge said the customers who have supported Waco Custom Marketplace since it opened nearly 8 years ago in April understand what's happening.
"People will still come and get their beef. They understand what's going on and that we can't really do anything about it. We're just kind of at the mercy of the market and everyone seems to understand fairly well," Bettge said.
Local livestock ranchers have also faced the effects of drought, rising feed costs and herd cuts. I will speak with them tomorrow about what comes next.
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