You seem "rational" so heres the "Low-Down" on Beef Prices..
Ranching country out in the western states have been in a "sustained" drought going on 10/15 years.
No rain means less open range feed so ranchers have to turn to higher priced grain feed to supplement loss of open range feed.
During Covid years things really busted loose in Ranching Country and now we have the lowest Beef Steer herd count since the 1950s/1960s era we "Boomers" were potty training last time beef cattle herd was that low but USA hadda population roughly 170/180 million people or HALF todays population of 330/360 million..
Add injury 2 insult for our own "Producers" last 30 years or so been massive Big Corporate consolidation in Slaughtering and Meat Packing industry..
Big Corporate Meat companies like Cargill, JBS, Tyson Foods etcetera have bought out most the smaller players and collude to Fix Prices for cattle squeezing our Farmers and ranchers killing off and consolidation killed the competion so only a handful of Big players remain and fix prices