Beef prices in the United States have reached their highest point, with supermarket prices rising by about 12% over the last year. However, American cattle farmers say they are not making more money, because the costs they pay to raise cattle are also going up, according to a BBC report.

This situation is mostly caused by a severe shortage of cattle. The number of cattle in the U.S. is the lowest it has been in almost 75 years, mostly because of years of drought and higher costs to run farms.

Because of this, beef is much more expensive for shoppers, but farmers are struggling. Many farmers must spend more money on animal feed and fuel, and some have chosen to sell their cattle rather than keep farming. The number of U.S. cattle ranches has dropped by 17% since 2017.