Yahoo Finance | EN590 Commodities
EN590 Commodities GroupMarket Analysis 2026-06-22T19:47:00.000Z
Rising food costs driven byinflationhave been a problem for U.S. steakhouses ranging from high-end to budget establishments, leading some well-known restaurants to permanently shut their doors and in some cases file for bankruptcy An increase in the cost of beef that led to steak prices spiking 16% to $12.73 per pound in March 2026, according to data from theFederal ReserveBank of St. Louis, affected menu prices and discouraged some diners from dining in steakhouses, taking a bite out of restaurant revenue. Steakhouses that have closed locations in the U.S. over the last three months have includedFleming's Prime Steakhouse and Wine Bar,McCormick & Schmick's, andStoney River Steakhouse and Grill, withQuaker Steak & Lubeabout to close one, too. AGolden Corralrestaurant franchisee,Conroe Corr
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25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA serving 75+ countries.