Pricier Burgers Are Coming for Diners as US Cattle Herd Plummets

Steaks and hamburgers will likely be more expensive in the next few years with US cattle shrinking to its lowest herd since 2014.

There were almost 89.3 million cattle as of Jan. 1, down 3% from a year ago, according to a US Department of Agriculture cattle-inventory report Tuesday. While the drop wasn’t unexpected — the total nearly matched expectations in a Bloomberg survey — a bigger decline in beef output may still be ahead in 2025 or 2026.