Global beef prices have demonstrated a substantial upward trajectory from 2005 through 2026, starting at 2.73 $/kg and reaching 7.99 $/kg by the end of the period. This represents a total change of 5.25 $/kg, equivalent to a 192.2% increase over 21 years, supported by a compound annual growth rate of 5.2%. The market experienced its lowest point in 2006 at 2.65 $/kg, with the 2026 price of 7.99 $/kg marking the historical peak. The most significant annual movement occurred between 2009 and 2010, when prices surged 25.2% from 2.73 $/kg to 3.42 $/kg, highlighting a period of pronounced volatility within the broader trend of sustained appreciation.
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Connect to an analyst →Price outlook to 2030
World Bank forecast OFFICIAL
The World Bank projects beef ** at 7.60 $/kg in 2026 and 7.81 in 2027.
Claight forecast CLAIGHT VIEW
Claight forecasts beef prices will remain above consensus through 2030 due to structural supply constraints and sustained protein demand growth. While 2026 anchors close to current levels and World Bank estimates, we expect divergence thereafter as limited new production capacity comes online amid increasing global protein demand from emerging economies. Climate volatility is reducing herd recovery rates in key producers, while labor shortages persist in meat processing facilities. Substitution effects from plant-based proteins remain minimal due to taste and texture limitations. Unlike consensus expectations of mean reversion, our forecast reflects structural tightening in the beef complex as supply struggles to keep pace with consumption growth, particularly in Asian markets expanding middle classes.
Data table
| Year | $/kg |
|---|---|
| 2005 | 2.73 |
| 2006 | 2.65 |
| 2007 | 2.69 |
| 2008 | 3.24 |
| 2009 | 2.73 |
| 2010 | 3.42 |
| 2011 | 4.08 |
| 2012 | 4.21 |
| 2013 | 4.13 |
| 2014 | 5.05 |
| 2015 | 4.56 |
| 2016 | 4.06 |
| 2017 | 4.39 |
| 2018 | 4.20 |
| 2019 | 4.76 |
| 2020 | 4.67 |
| 2021 | 5.34 |
| 2022 | 5.62 |
| 2023 | 4.90 |
| 2024 | 5.93 |
| 2025 | 6.86 |
Source: World Bank Commodity Markets Outlook (Pink Sheet), accessed 2026-07-04. Licence: CC BY 4.0. Claight analysis based on this data.