Burgers and steaks are set to stay pricey as U.S. cattle ranchers shrink their herds, further constraining U.S. beef production in the months ahead.

Rising costs for feed and other expenses are leading ranchers to sell their calves into feedlots at a faster pace, according to federal data, leaving fewer cattle available for slaughter later this year and in 2023. Persistent drought conditions in the Western U.S. have parched grazing pastures, requiring cattlemen to spend more on supplemental feed, ranchers and beef industry officials said.

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