As the Price of Beef Soars, Restaurants Are in ‘Code Red’ Mode

With the nation’s cattle inventory at its lowest level since the 1950s, ground beef, chuck roasts and steaks have surged in price over the last two years. Restaurants that specialize in steak are feeling the same sticker shock as consumers in grocery stores, as the price of USDA choice boneless steak has soared 20 percent in the past year to an average of $14.13 a pound, according to September data from the Bureau of Labor Statistics. Read more here.