Global beef prices reach record levels amid shrinking supply

In the first quarter of 2026, international meat prices, particularly beef, rose to record highs. The main driver behind this trend is climate-related disruptions that have significantly reduced global supply, with effects already being felt in domestic markets.

According to Argentina’s National Institute of Statistics and Census (INDEC), export prices for Argentine beef reached their highest level since records began in 1986 during January–March 2026. The average price of chilled beef stood at USD 12,710 per tonne, or about USD 12.7 per kilogram, marking a 33.7% increase compared to the same period last year.

On the global market, beef prices have also shown strong growth. The World Bank reports that prices rose from USD 6.62 per kilogram in May 2025 to USD 8.21 in March 2026, an increase of 24.1%.

Industry experts attribute this surge mainly to adverse weather conditions in key producing countries such as the United States, Argentina, and Brazil. Droughts and other climate factors have reduced cattle inventories and production volumes, tightening global supply.

At the same time, higher international prices are already impacting domestic markets. In Argentina, beef has become one of the main contributors to accelerating inflation in early 2026. Analysts warn that price pressure may persist as the market remains highly sensitive to supply constraints and global demand dynamics.