Beef prices hit record high in Canada. Here's why you're paying more for that cut of steak and ground beef

By the pound

According to Statistics Canada's monthly food price index, the price of ground beef per kilogram in September was $12.96 ($5.87/pound). A striploin was $32.04 ($14.53/pound) in September, and a sirloin was $24.16 ($10.50/pound).

Ground beef is usually one of the more affordable beef items to find in the weekly grocery cart, and while prices are down from the $13.60 per kilogram in August ($6.16/pound), the price overall is still expensive for anyone on a fixed income.

Statistics Canada said the price of ground beef has actually gone up 15 per cent in the last year. Ground beef was selling for around $11.69 per kilogram last September ($5.30/pound).

And in September 2020, ground beef was selling at $9.06 per kilogram ($4.10/pound).

”Beef has been a significant contributor to food inflation in recent months, outpacing general inflation,” reported Retail Insider — an online retail industry publication. ”Unless you have a direct connection with a rancher or find exceptional deals, consumers should brace for significantly higher beef prices.”

Raising the steaks

This isn't the first time beef prices have been high.

Back in 2015, beef prices increased by almost 30 per cent within in a few weeks.

It was around the same time the World Health Organization shared the correlation between cancer and the consumption of red meat — which includes beef, veal, pork, lamb, mutton, horse, and goat.

Red meat was listed as a Class 2A carcinogen.

”The classification is based on limited evidence from epidemiological studies showing positive associations between eating red meat and developing colorectal cancer as well as strong mechanistic evidence,” the organization said.

Following that, organizations like the Canadian Cancer Society have asked people to limit their intake of red meat, which led to an overall drop in consumption.

However, the Canadian government then made a distinction between demand and consumption, sharing that demand was up, but consumption was down.

”Canadians might decline to buy beef when the price they pay is deemed too high, but they still prefer it and are willing to buy it under certain circumstances,” a statement in Canada's 2015 Beef Sector Report said.