Global Meat Prices Extend Rally to Record on Tight Beef Supplies

Global meat prices hit a fresh record high in September — in the longest run of monthly gains since 2021 — as shrinking US cattle herds are unable to keep up with strong demand for beef.

An index tracking meat-commodity costs rose 0.7% to cap an eighth straight monthly increase, the United Nations’ Food and Agriculture Organization said Friday. The rally has been largely driven by beef — with the US herd reaching the smallest in decades, higher prices in top shipper Brazil, and worries over the deadly New World screwworm pest in Mexico.