How Much is Ground Beef Really Costing You?

Ground beef is a staple ingredient in many households. From tacos to meatballs to hamburgers, this versatile meat finds its way into family meals on a regular basis. But have you noticed the price of ground beef steadily creeping up at the grocery store? What used to be one of the most budget-friendly meats is becoming quite an expensive purchase. So how much is ground beef actually costing you nowadays? Let’s take a closer look at the rising prices of ground beef and how it impacts your wallet.

Tracking the Upward Trend of Ground Beef Prices

Ground beef prices have been on a continuous incline over the past few years. According to data from the National Beef Wire, the average price per pound for retail ground beef in 2022 was $4.81. Fast forward to 2024, and the average ground beef price has skyrocketed to $5.35 per pound – an 11% increase in just two years!

In fact, every single month in 2024 so far has set a new record high price for that particular month. September 2024 saw the highest price ever at $5.67 per pound. And while October’s price decreased slightly to $5.59 per pound this still represents the most expensive October on record.

Clearly, the days of grabbing ground beef for $3-4 per pound are long gone Experts point to a combination of factors causing this steady price inflation, from increased transportation and labor costs to high demand and tightened supplies. Whatever the exact causes may be, the bottom line is ground beef ain’t cheap anymore!

Comparing Prices at the Grocery Store

The soaring prices are evident when you browse the meat section at your local grocery store. Let’s compare current ground beef prices to see how much this staple ingredient now costs:

• At Walmart, you’ll typically pay between $4.77-5.94 per pound for their store brand ground beef, depending on the fat percentage. Even their extra lean 96/4 ground beef now costs $5.94 per pound.

• Target’s all natural 85/15 ground beef runs $6.49 per pound. And their 90/10 extra lean blend will cost you $7.99 per pound.

• At Kroger, ground beef ranges from $3.99 per pound for the 73/27 option to $7.99 per pound for organic and grass-fed beef.

• And at Publix, you’ll spend anywhere from $6.29 per pound for their traditional 85/15 ground beef up to $9.99 per pound for premium organic and wagyu blends.

As you can see, even basic grocery store ground beef now costs an average of $5-7 per pound, with premium blends running even higher. This adds up quickly when you’re cooking for a family!

How Much Ground Beef Do You Really Need?

To figure out how ground beef prices impact your budget, you need to know how much you’re actually using. The average American consumes around 12.4 pounds of ground beef per year. That may not seem like a lot, but for a family of four that quickly adds up to nearly 50 pounds annually.

When ground beef cost $3-4 per pound, 50 pounds would run you $150-200 per year. But at today’s inflated prices of $5-7 per pound, you’re now looking at $250-350 annually just for ground beef. And that’s not even including other types of beef or meat you may purchase.

Clearly, ground beef now represents a significant bite out of your grocery budget. A few strategies can help lower the costs:

• Buy larger packages of ground beef when it’s on sale and freeze portions to use later. Just divide it into 1-2 pound packages so you can defrost only what you need at one time.

• Opt for cheaper cuts like the 73/27 blend instead of the 90/10 extra lean. The small difference in fat won’t drastically impact your recipes.

• Try mixing half ground beef with half ground turkey or mushrooms to still get the beef flavor while cutting costs.

• Limit beef to once or twice a week and substitute more chicken, pork, beans, lentils, or eggs for your other protein needs.

Creative Ways to Save on Ground Beef

While the days of super cheap ground beef are gone, you can still find ways to save money and stick to your budget. Here are a few creative ideas:

• Check out manager markdowns or meat that is nearing its sell-by date for steep discounts. Just cook or freeze it promptly.

• Scope out the reduced section for ground beef sitting at 50% off or more.

• Use a store loyalty card or mobile app to load digital coupons and save $1-2 per pound instantly.

• Buy a quarter or half cow from a local farm and get high quality ground beef for $3-4 per pound.

• During BBQ season, stock up when ground beef goes on sale for a big Memorial or July 4th event.

• Invest in a meat grinder attachment for your stand mixer. Grinding your own meat from roasts and steaks saves big.

• Ask your butcher about beef trimmings – the leftover pieces from cutting steaks and roasts. They often sell these inexpensively for grinding.

• Join store social media to get alerts about unadvertised flash sales on ground beef and meat.

Is Buying in Bulk Worth the Price?

Many shoppers turn to warehouse clubs like Costco or Sam’s Club to buy meat in bulk and save money. But does this strategy really pay off when it comes to ground beef?

The short answer – it depends on the prices at your local warehouse store. A 5-pound package of ground beef at Costco or Sam’s Club generally costs around $3.99 per pound. Compared to the $5-7 per pound at the grocery store, this represents a good deal. But some shoppers have noticed the warehouse prices creeping up lately too.

Buying a huge 10-20 pound log of ground beef makes sense if you’ll use it all before it expires. But some people waste food by letting it go bad in the fridge or freezer before they can cook it all. Consider your family’s normal ground beef consumption before going all in on a massive package.

And pay attention to the type of ground beef in the bulk packs. Make sure it isn’t loaded with fat or gristle pieces that will cook off and shrink your finished portions. Know what you’re really getting for the price per pound.

Is It Worth Paying More for Premium Ground Beef?

As ground beef got more expensive across the board, premium options emerged touting claims like organic, grass-fed, non-GMO, and humanely raised. Before paying $9-12 per pound for one of these artisanal beef blends, be sure you understand what you’re getting for the price:

• Organic means the cows were fed organic feed, not treated with hormones/antibiotics, and raised using organic practices. This label alone doesn’t guarantee higher quality beef.

• Grass-fed cattle were fed grass instead of grain, resulting in a slightly different nutritional profile. Many people find the taste similar to regular beef.

• Non-GMO confirms the cows were not fed genetically modified organisms. There is no evidence this affects the nutritional value or safety of the meat.

• Humanely raised has no USDA standard definition but implies the animals were treated well during their lives.

Keep in mind that ground beef all comes from the same parts of the cow regardless of small production differences like organic or grass-fed. Paying double the price per pound may not be worth it for many shoppers, especially in financially difficult times. But if it fits your budget and priorities, go for it!

Tips for Stretching Ground Beef Even Further

Ground beef used to be a go-to filling and budget friendly meal base. But with prices at an all-time high, you need to make every pound count now more than ever. Use these tips to stretch ground beef into even more family meals:

• Mix in extra vegetables like diced mushrooms, shredded carrots, chopped spinach or zucchini. They add moisture and volume.

• Use oats or breadcrumbs as fillers to absorb moisture and fat from the beef. Aim for a 75/25 ratio of beef to fillers.

• Combine with beans or lentils to add protein, fiber and thickness for less cost than just beef alone. Think chili, tacos, meatloaf and more.

• Opt for patties over meatballs or meat sauce. You can really stretch a pound of beef into 6 large patties or 12 sliders.

• Choose recipes that call for minimal beef like casseroles, stir fries, fajitas, pasta bakes and sheet pan meals. A little beef can add lots of flavor.

Getting creative with how you use and store ground beef is key to keeping it in your meal plan on a budget. And combining it with other low cost ingredients ensures you still get delicious dinners at home.

Is Ground Beef Still Worth Buying?

At the end of the day, despite rising prices, ground beef remains a pantry staple for millions of households. Its versatility to transform into so many different meals keeps it a must-have ingredient for many shoppers. While costs may continue trending upwards, there are still ways to buy, prepare and serve ground beef affordably.

Being an informed shopper, tracking prices, buying smart, and using proper storage lets you balance your family’s ground beef needs with your financial reality. Don’t let the meat aisle deter you. With some savvy shopping skills and creative recipes, you can enjoy ground beef without breaking the bank!

Average Retail Food and Energy Prices, U.S. and Midwest Region