Jim's South Street eyeing 'crazy' rising cost of beef

Ken Silver knows beef because he knows Philly cheesesteak. He hopes that a summer spike in how much he pays for his restaurant's main product doesn't cause heartburn for him or his customers. Silver, president of Jim's South St. in Philadelphia, said the price of beef from his supplier now is about $1 more per pound than it was a year ago. And that is on top of a roughly 50% increase when he reopened in 2024 after a fire — “crazy,” as he put it. U.S. beef prices have been steadily rising over the past 20 years because the supply of cattle remains tight while beef remains popular. “Our strategy right now is just absorbing the price and hoping that we see a reduction after the summer months are over, the grilling season and all the rest,” Silver said Wednesday.

Price of cheesesteaks challenged by the ever-rising cost of beef