%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Beef prices in the U.S. are at an all-time high, further pressuring consumers heading into the summer grilling season. Live cattle futures are trading at $2.51 U.S. per pound, the highest price on record going back to the 1960s, according to FactSet (NYSE: $FDS ) data. Each contract is for 40,000 pounds of live cattle, typically about 30 to 35 head of slaughter-ready cows. The price for live cattle has risen more than 25% over the past 12 months as ranchers face rising costs and diminished herd sizes. The number of cattle slaughtered in the U.S. declined to 2.2 million head in March of this year, down from 2.5 million a year earlier, according to the U.S. Department of Agriculture (USDA). Beef production in America has fallen by 300,000 pounds to 1.9 million over the same time frame, pushing prices in supermarkets up sharply. The U.S. cattle herd now stands at its smallest size since the 1950s, when the U.S. population was half its size today, says the USDA. The limited supply has driven the retail price of ground beef up to a record $6.70 U.S. per pound, the Bureau of Labor Statistics reported in its latest inflation report. Beef prices in the U.S. during March were 12% higher than a year ago. The price of ground beef in America is now at its highest level on record, dating back to 1984. Beef has failed to follow recent declines in the prices of eggs and chickens across America, says the USDA.