Current beef prices have surged over the past six years, with the average price of steak or ground beef increasing more than 50% since early 2020, due to factors like a multi-year drought in cattle country, leading to the smallest American cattle supply in 75 years and impacting the cost of raising cattle.

Democratic lawmakers are preparing legislation that would break up U. S. meatpacking companies, seeking to help curb record-high beef prices.

While US inflation has cooled from its pandemic-era peak, prices at grocery store meat counters are skyrocketing with no relief in sight.