Why Ground Beef Prices Are Rising Faster Than Steak

Since the beginning of the cattle bull market in 2022, retail and wholesale beef prices have climbed steadily. However, not all beef products are rising at the same rate. Surprisingly, budget-friendly ground beef prices are climbing significantly faster than luxury cuts like tenderloin.

According to Derrell Peel, Oklahoma State University Extension livestock marketing specialist, a combination of shifting consumer habits and a dramatic drop in cow slaughter is driving this trend.

“In general, as beef prices increase, consumers are likely to rely even more heavily on ground beef to blunt the impact of higher beef prices,” Peel explains. “This increases ground beef demand relative to other beef products.”

How Much Have Beef Prices Increased?

According to Peel in a recent Cow-Calf Corner article, here is how much wholesale beef prices have risen from 2022 averages to August 2026:

Choice Wholesale Boxed Beef: Up 44.1%

All-Fresh Retail Beef: Up 29.8%

Wholesale Beef Tenderloin: Up 26.6%

85% Lean Ground Beef: Up 60.7%

High-Value Steaks (Ribeye, Strip Loin, Tenderloin): Up an average of 33.6%

Mid-Tier Cuts (Flank, Tri-Tip, Top Sirloin, Top Round): Up an average of 42.7%