The high prices of beef and really all food commodities are due to low supply more than anything else. If you do some web searching for the number of livestock culling that have been mandated by the U.S. and other nations over the last 5 years, you’ll immediately notice that the livestock levels are now at all-time lows. And it’s not limited to beef. The culling were mandated mostly for health and safety reasons - parasites, diseases, etc. - but some were also mandated for climate change policy reasons (thanks Europe) /sc. Seeking supply elsewhere is smart given the circumstances. Waiting for ranchers to increase supply isn’t smart since they will be incentivized to keep that supply low for profitability.
It will be a mighty cold day when farmers agree to limit production in the name of keeping prices high. High prices are like bones to a dog, and they'll go after it tooth and nail.
“If you do some web searching for the number of livestock culling that have been mandated by the U.S. and other nations over the last 5 years, you’ll immediately notice that the livestock levels are now at all-time lows.”
You are conflating diminished herds with culling mandates. Lingering drought conditions are the direct cause of herd shrinkage, not mandates.
They simply do not exist in the United States. European environmental regulations EXPLICITLY exclude cattle and apply only to pork and poultry.