Cattle in a feedlotBeef prices continue to climb for U.S. consumers at the grocery store, but could that volatility still lead to even higher costs? As beef numbers decline in the U.S., exports have only accounted for 12.7% of beef production, making the homegrown protein all the more valuable.

In the first six months of 2022, U.S. beef export volume increased by 3.6% (33.5% in value) since 2021. Significant value gains in the short time span have outpaced production in the U.S. in tandem with challenging drought conditions. Domestic beef demand has remained strong, even amidst high prices. But if household finances suffer, consumer preference could see a decline in domestic spending habits. However, highly valuable exports should carry beef well into the future.

Read more on beef prices and demand here.