Average 80/20 ground beef price hits $8.34 a pound, topping the $7.25 federal minimum wage

USDA data show the U.S. beef cow herd has fallen to its smallest level since 1951, after drought pushed ranchers to cull breeding cows earlier than planned. A New World screwworm outbreak is adding another threat to supply. The national average price for 80/20 ground beef is $8.34 per pound, well above the federal minimum wage of $7.25 an hour and nearly four times the level in 2009. Because rebuilding the herd takes 2–3 years, the shortage is unlikely to ease quickly.