The American meat shortage is pushing prices to unprecedented heights — here’s how it could affect your grocery bill

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Fresh meat prices escalated 8.1% in stores, compared to the same period last year, according to Nielsen data for the week ending April 25.

Pork and beef prices could increase by as much as 20% compared to 2019, according to a new report from CoBank, a cooperative bank that is part of the Farm Credit System.

A 20% increase would be an unprecedented price hike, according to Will Sawyer, CoBank’s lead animal protein economist. Pork prices have only experienced inflation of more than 10% twice in the last 20 years; neither time did inflation grow to 20%.

Pork and beef production has plunged by roughly 35% compared to this time last year, according to the CoBank report. As a result, Sawyer says, grocery stores running out of products and price inflation are “nearly assured.” – READ MORE

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