US steakhouses have been hit by a surge in the price of prime cuts of beef, with prices rising as much as 30% in the past month, according to the Charlie Palmer Group. Some businesses have placed blame on a recent trade deal with China, which has opened up the country's booming meat market to imports of US beef. In response, some restaurants and meat sellers have been putting cuts of beef aside in anticipation of a shortage. "There is much less [beef] available on the market," claimed Pat LaFrieda Jr of supplier Pat LaFrieda Meat Purveyors.
US steakhouses have been hit by a surge in the price of prime cuts of beef, with prices rising as much as 30% in the past month, according to The New York Post. Some businesses have placed blame on a recent trade deal with China, which has opened up the country's booming meat market to imports of US beef. In response, some restaurants and meat sellers have been putting cuts of beef aside in anticipation of a shortage. "There is much less [beef] available on the market," claimed Pat LaFrieda Jr of supplier Pat LaFrieda Meat Purveyors.