With many 2026 meeting budgets already set, the continuously rising cost of beef is surely not welcome news to planners.
In fact, at the rate that beef costs are rising—the USDA says it was $6.50 per pound in September, but some estimates (including that of Omaha Steaks CEO Matt Rempe) have it going to nearly $10 per pound by late 2026—many organizations will have to reexamine their food and beverage choices for events in the coming year.
There are a few reasons for the sharp rise in beef costs. First, U.S. cattle inventory is the lowest it has been since 1951, as years of severe drought forced many ranchers to sell off their stock due to a lack of available feed and water, slowing down the natural herd-rebuilding process. Also, workforce reductions in the wake of federal immigration enforcement have also contributed to less product being distributed. Meanwhile, consumer appetite for beef has remained robust.
How Planners Can Adapt
"There are plenty of alternative protein sources in terms of pork and poultry, especially in the U.S., that consumers could turn to that are in abundant supply and relatively cheaper," said Derrell Peel, a professor in the department of agricultural economics at Oklahoma State University, in this CBS MoneyWatch article.
In light of this, many restaurants, hotels and other catering operations are offering business events a dual-entree plate for lunches and dinners, which consists of smaller portions of two different proteins. One popular option that keeps beef on the menu: 3 to 4 ounces of sliced steak paired with a 6-ounce chicken thigh or 4-ounce chicken breast. Another white-meat option that can be paired with beef: 4 to 6 ounces of pork.
