Latest news with #StephenKirkland
Yahoo
23-05-2025
- Business
- Yahoo
Beef prices reach record high - up almost 50% in five years
Beef prices had soared to a record high in April - up almost 50 percent from five years ago. While Americans are eating more protein than ever, farmers are hiking up the price of their beef as they struggle to raise cattle. According to government statistics, the average cost of one pound of ground beef reached $5.80 in April — a new record for the meat industry and an almost 50 percent price increase in five years. Stephen Kirkland, owner of the Texas-based Z Bar Cattle Company, told CBS News that he could buy a steer for roughly $1,500 a year ago. Steers are young male cattle raised for beef. Kirkland said the price of a steer has now spiked to almost $2,400. He explained all the extra costs of raising cattle: "$2,400 for one steer going into the feed yard, and then feed and everything else, transportation, everything else that gets involved in that.' Kirkland said his company has tried to absorb the cost increases at his two butcher shops. 'But as cattle prices increase, we're left with no other choice,' he said, adding, "If we want to stay profitable, we want to stay in business at all, you've got to go up on your price.' One Texan shopper, Darlowe Torkelson, who was buying a single sirloin steak and one potato for him and his wife, told CBS News that he hasn't found his upper limit of what he's willing to spend on certain groceries. But he said, 'I'd like to see it back down.' Despite high prices, more Americans are eating protein. The New York Times reported earlier this month that 'meat is back.' The Times cited a report from the Food Industry Association and the Meat Institute released in March stating that meat sales, which included beef, hit a record high of $104.6 billion in 2024. Another report that the sustainable food company Cargill issued in April, which was also cited by the Times, stated that 61 percent of Americans increased the amount of protein they ate last year compared to 48 percent who upped their protein intake in 2019.
Yahoo
23-05-2025
- Business
- Yahoo
Beef prices reach record highs as cattle industry struggles with costs
Fort Worth, Texas — The dinner shopping list for Darlowe Torkelson and his wife was short. At today's prices, it consisted of just one sirloin steak and one potato. Torkelson of Argyle, Texas, told CBS News his family doesn't yet know the upper limit of what they are willing to pay for certain groceries. "I haven't found it, I'd like to see it back down," Torkelson said. The average cost of one pound of ground beef reached a record-high of $5.80 in April, according to numbers from the Bureau of Labor Statistics. That is up nearly 50% from five years ago. "We are very, very conscious of how high the prices are in the meat case," said rancher Stephen Kirkland, owner of the Z Bar Cattle Company. Kirkland said he has been trying to absorb the price increases at the two butcher shops he owns near Fort Worth, Texas. Kirkland says that a year ago, he could buy cattle for about $1,500 per steer. Now, he says the price has risen to nearly $2,400. "$2,400 for one steer going into the feed yard, and then feed and everything else, transportation, everything else that gets involved in that," Kirkland said of the cost. Raising those steers also comes at a higher cost, with prices going up for feed, land and financing. Those cost increases have contributed to U.S. cattle herds falling to their lowest numbers in more than 70 years, according to USDA data. "We've had a lot of drought the past couple of years, and so it's been harder and harder to keep enough grass to feed the cows," said rancher Kim Radaker Bays, who raises Herefords and Texas Longhorns at Twin Canyons Ranch south of Fort Worth. She has to weigh the cost to keep the herd fed and healthy against the price they will command at market. She says that if a cow is non-pregnant, or "open" — meaning it's not carrying a calf and growing the herd — it's a better financial decision at today's prices for Bays to sell it. "It just costs too much to feed them if you don't get a calf every year," Bays explains. With supplies tightening, the U.S. Department of Agriculture forecasts that beef prices will rise throughout 2025. Kirkland says he won't speculate on when the price of beef will be too high for consumers. "But as cattle prices increase, we're left with no other choice," Kirkland said. "If we want to stay profitable, we want to stay in business at all, you've got to go up on your price." Trump confronts South African president during White House meeting, repeats genocide claims Trump takes questions during meeting with South African president Rubio, Jayapal have fiery exchange about Afrikaner refugee's antisemitic tweet, student visas
CBS News
23-05-2025
- Business
- CBS News
U.S. beef prices reach record highs as cattle industry struggles to keep costs down
Beef prices at all-time highs, up nearly 50% from 5 years ago Fort Worth, Texas — The dinner shopping list for Darlowe Torkelson and his wife was short. At today's prices, it consisted of just one sirloin steak and one potato. Torkelson of Argyle, Texas, told CBS News his family doesn't yet know the upper limit of what they are willing to pay for certain groceries. "I haven't found it, I'd like to see it back down," Torkelson said. The average cost of one pound of ground beef reached a record-high of $5.80 in April, according to numbers from the Bureau of Labor Statistics. That is up nearly 50% from five years ago. "We are very, very conscious of how high the prices are in the meat case," said rancher Stephen Kirkland, owner of the Z Bar Cattle Company. Kirkland said he has been trying to absorb the price increases at the two butcher shops he owns near Fort Worth, Texas. Kirkland says that a year ago, he could buy cattle for about $1,500 per steer. Now, he says the price has risen to nearly $2,400. "$2,400 for one steer going into the feed yard, and then feed and everything else, transportation, everything else that gets involved in that," Kirkland said of the cost. Raising those steers also comes at a higher cost, with prices going up for feed, land and financing. Those cost increases have contributed to U.S. cattle herds falling to their lowest numbers in more than 70 years, according to USDA data. "We've had a lot of drought the past couple of years, and so it's been harder and harder to keep enough grass to feed the cows," said rancher Kim Radaker Bays, who raises Herefords and Texas Longhorns at Twin Canyons Ranch south of Fort Worth. She has to weigh the cost to keep the herd fed and healthy against the price they will command at market. She says that if a cow is non-pregnant, or "open" — meaning it's not carrying a calf and growing the herd — it's a better financial decision at today's prices for Bays to sell it. "It just costs too much to feed them if you don't get a calf every year," Bays explains. With supplies tightening, the U.S. Department of Agriculture forecasts that beef prices will rise throughout 2025. Kirkland says he won't speculate on when the price of beef will be too high for consumers. "But as cattle prices increase, we're left with no other choice," Kirkland said. "If we want to stay profitable, we want to stay in business at all, you've got to go up on your price."
Yahoo
11-02-2025
- Business
- Yahoo
Norfolk to hold ribbon cutting ceremony to kick off year-round cruises
NORFOLK, Va. (WAVY) – The City of Norfolk is getting ready to start off their year-round cruises with a ribbon cutting at the newly renovated Half Moone Cruise Center Tuesday morning. The Carnival Sunshine, which holds up to 3,700 guests, will be the first cruise of the year. Carnival said they expect to sail a total of 150,000 guests annually from Norfolk — a feat only possible due to recent renovations to help with customer flow. Renovations almost complete to enhance cruise operations in Norfolk The $12 million renovation includes a new walkway to allow for more passengers to debark at one time and an improved space for customers to pick up their luggage before going through new customs checkpoints. Due to all of the renovations, Carnival will now offer six-to-eight-day itineraries to The Bahamas, Bermuda, Canada and the Eastern Caribbean out of Norfolk. Carnival announces new cruises out of Norfolk for 2026-27 Work will continue throughout the season, however, to continue to improve access for traffic dropping off passengers. All of the improvements are expected to bring over $19 million to the city annually, according to officials. The ribbon cutting is expected to take place around 10 a.m. at the Half Moone Cruise Center. Norfolk Mayor Kenneth Alexander, Nauticus Executive Director Stephen Kirkland and Carnival Vice President of Port Operations David Candib will be in attendance. 10 On Your Side's Nick Broadway will be at the event and will provide updates throughout the day. Continue to check for updates. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
08-02-2025
- Business
- Yahoo
Cruises to leave from Norfolk weekly, year-round starting next week
This cruise season will be unlike any other at Nauticus as it sets sail on a new schedule of weekly cruises year-round. Norfolk's business community looks at those passengers and sees an opportunity. It is making a joint effort to draw them out for experiences in the area before and after voyages. This takes the form of expanded discount packages involving local restaurants and hotels and promotions for business districts like Selden Market and Waterside in downtown Norfolk. Weekly cruises will begin Feb. 11 with the Carnival Sunshine and run through December, instead of being from early spring to early fall and being more sporadic. Each week, there will be more than 3,000 passengers disembarking from the previous week's cruise and 3,000-plus more passengers embarking for another weeklong cruise, according to Stephen Kirkland, executive director of Nauticus. Cruise passengers spend an estimated $125 per person in the area before and after their voyages, according to Rehn West Saunders, director of development and marketing for Nauticus. That means an estimated $375,000 per ship and $19 million annually in economic impact from the new weekly schedule. Nauticus is expecting an estimated 300,000 cruise passengers this year, Saunders said. 'Our primary opportunity here is continuing to position Norfolk as an incredible pre- and post-destination,' Kirkland said in a presentation to the Norfolk City Council last month. 'Savvy travelers know if I get there the day before I can spend some time in the port and I can make sure that I'm ready for my cruise – that's our opportunity.' Along with the new schedule, cruise passengers leaving from Norfolk this year can now book cruises to Canada and Bermuda, Saunders said. To help promote local businesses, Visit Norfolk created a webpage with a full list of the discount packages being offered to cruise passengers. The page launched in September 2024 and quickly became the most viewed page on their site, according to Sarah Hughes, director of marketing for Visit Norfolk. The discounts include a free night at DoubleTree by Hilton Hotel near the Norfolk Airport along with parking for the length of the cruise and transportation to and from the cruise terminal, 20% off a meal at select restaurants at Hilton Norfolk The Main, 15% off meals at restaurants at Waterside, and promotions with the city's various museums and other attractions. The year-round cruise schedule for Norfolk has been in the works since the announcement of Nauticus's relationship with Carnival in 2023, but the disruption to cruise traffic caused by the collapse of the Francis Scott Key Bridge in Baltimore put many of these ideas on the fast track, according to Saunders. 'What we really saw last spring with the Baltimore bridge collapse when both Carnival and Royal Caribbean were redirected to Norfolk … The community really stepped up and saw that there were going to be a lot of cruise passengers coming here, people were being bused down from Baltimore, and we were just able to come together and quickly come up with packages and deals and things for these passengers to do and I feel like that was what spurred (the year-round schedule) because (local businesses) were able to see a return,' Saunders said. Later this month, Nauticus will host more than 100 travel agents for a site visit to help promote Norfolk as a cruise destination across the country. Gavin Stone, 757-712-4806,
