Relief from soaring beef prices years away, experts warn

Added: 2026-05-26

[00:00:00]Whether it's steaks on the grill or burgers for a backyard barbecue, Canadians are paying significantly more for beef.

[00:00:07]>> They're up about $10 a pound.

[00:00:09]>> So, it's it's a pretty big increase.

[00:00:11]>> Beef prices are up more than 12% compared to a year ago and nearly 63% higher than 5 years ago. Far outpacing increases for chicken or pork.

[00:00:22]>> The odd time I'll, you know, buy a steak, but it still hurts to buy a steak. gets so darn expensive.

[00:00:30]>> Industry analysts say years of drought drove up feed costs, forcing ranchers to shrink cattle herds. But despite hefty prices at Calgary's Bonton meat market, it remains a top seller.

[00:00:42]>> We're still 45% of our sales are beef.

[00:00:45]However, you are seeing people either buying a little less, maybe not as big a steak, maybe a little cheaper cut of meat.

[00:00:52]>> One possible factor fueling demand, the growing popularity of protein heavy diets. We have a protein moment happening not only in North America but around the world that's really being supportive not just to beef but to all proteins. Now Canada's cattle herd is beginning to expand for the first time in years with high prices encouraging ranchers to raise more cows.

[00:01:15]>> Prices have rebounded to the point where yeah it it's looking good to put to put cattle back into your cow herd. But rising costs for fuel and feed are limiting how fast they can expand.

[00:01:28]Still, consumers shouldn't expect bargain beef anytime soon as experts say more supply is still years away.

[00:01:36]>> It's too bad that it's so expensive, but you know, if we like beef, you you eat it.

[00:01:43]>> Which is why so many keep lining up at the beef counter. Aa Sudu, CBC News, Calgary.