U.S. beef prices remain elevated after the country's cattle herd shrank to its smallest size in 75 years, but consumers are beginning to pull back as higher grocery bills strain budgets. Beef sales volumes in the 13 weeks ending in mid-July fell 0.3% from a year earlier, according to Circana, compared with roughly 5% growth in the same period in each of the previous two years. Ground beef prices averaged $7.116 a pound in July, according to the U.S. Bureau of Labor Statistics, near a record high though the 9.4% year-over-year increase was the smallest in 17 months. Analysts and industry executives say shoppers are increasingly switching to cheaper proteins such as chicken, while softer demand during the summer grilling season has contributed to declines in wholesale beef prices and live cattle futures. The U.S. has sought to ease pressure by importing more meat from countries including Argentina and by moving to resume live cattle shipments from Mexico, but tight supplies persist because the domestic herd, at 86.2 million head versus 94.7 million in 2019, remains near its lowest level in about five decades.