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Beef prices hit records, forcing many steakhouses to close while budget chains grow.

Market News
25 May 2026
Forbes
View Source
Bearish
pluang ai news

Record-high beef prices, driven by a historic cattle shortage and rising costs, are forcing many steakhouses, especially high-end and Texas barbecue joints, to close or raise prices significantly. Wholesale beef prices surged 17-28% year-over-year, with brisket prices in Texas reaching up to $38 per pound. While some premium steakhouses struggle or file for bankruptcy, lower-cost chains like Texas Roadhouse and Outback Steakhouse are thriving by shifting to cheaper menu items. Efforts by the Trump administration to lower beef prices through import and regulatory changes have stalled, leaving supply-demand imbalances unresolved amid rising consumer demand for red meat.

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