LINCOLN — The United States is facing a historic cattle shortage, driving beef prices to record highs as drought conditions and industry consolidation continue to impact ranchers. The number of U.S. beef cattle operations has declined from more than 1 million in 1978 to approximately 622,000 in 2022, with Nebraska also experiencing significant losses. Industry groups blame trade agreements and consolidation among major meatpackers, with four companies now controlling more than 80% of beef processing. As smaller ranches and feedlots close, producers face fewer buyers and increasing pressure to remain profitable.

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