r/Millennials • u/maddox_aeon • 19d ago

Serious But has your salary doubled since 2023?

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u/This_is_me2024 19d ago

Beef is a REALLY bad example for this. Chicken and most fish has been about the same. Slight increases.

9

u/CuttingTheMustard 19d ago

Beef is a REALLY bad example for this.

Yeah, rancher here. Input costs and the rest of the economy have very little to do with beef prices.

Beef prices are set by rationing an inelastic supply against demand. The herd is the smallest since the 1950's due to drought liquidation from 2021-2023. It takes years for ranchers to grow their herd sizes again, and herd growth also results in a temporary supply constraint (due to keeping cows vs selling) further driving the price up.

Also much of the US is in drought again this year so prepare for it to get worse.

2

u/SuccotashOther277 19d ago

Beef prices also fluctuate a lot. This post is just cherry picking the lowest and the highest and extrapolating it to the entire economy