A meat product overlooked by the majority of U.S. consumers due to its price is getting more attention as the price of beef ticks higher.
Decreased beef production due to herd sizes at a 61-year low have sent beef prices to record highs. Retail ground beef prices are approaching $5 per pound according to the USDA, with premier cuts selling for over $10 per pound. The escalating beef prices have consumers considering alternatives that had previously been comparatively too high.
One new competitor according to CNBC is bison. The lean meat fits into the Paleo diet trend gaining popularity. Bison remains a more expensive option, with ground bison selling for more than $8 per pound, but as beef prices rise the difference between the two narrows.
Jeff Miller, who runs Diamond Mountain Ranch in Northern California, says the 250 head raises on his ranch isn’t even enough to meet demand for the restaurants in Southern California.