Utah's beef prices have hit an unprecedented high in 2025, according to a report from the Kem C. Gardner Policy Institute. The price per pound of ground beef surged to an all-time high of $6.32 in August 2025, a significant increase from $1.71 in 2022. This rise in beef prices is attributed to declining cattle inventories, sustained demand, and increasing input costs. In 2022, cattle sales accounted for approximately 26% of Utah's livestock and poultry product sales, totaling around $427.5 million. While ranchers are currently benefiting from these high prices, the report suggests that the advantages may be short-lived due to the rising costs associated with rebuilding herds. The agricultural landscape in Utah is also witnessing a sharp decline in hog production. Following Smithfield Foods' decision to end contracts with 26 hog farms in late 2023, the state's hog inventory plummeted from over 1 million in September 2020 to just 105,000 by September 2024. The company's announcement cited the need to optimize its supply chain amidst an oversupply of pork, weakening consumer demand, and high feed prices. Despite the increased revenue from beef sales, farmers nationally face volatile business costs. The Gardner Institute noted that while the prices paid index for crops has remained stable since 2022, livestock prices have shown a steady increase from 2020 to 2025. In 2022, Utah's farm sales totaled $2.3 billion, reflecting agriculture's critical role in rural economies, despite representing a small fraction of the state's overall economy. Researchers emphasized that agriculture covers nearly one-fifth of all land in Utah and serves as an essential economic component in many rural areas, underscoring its importance to the state's agricultural landscape.