North American beef prices are soaring as a labour crunch squeezes meatpackers and supply-chain snarls add to freight costs. In Canada, prices for a prime rib roast have risen 20 per cent in the past year and are the highest since at least 1995, Statistics Canada data show. Sirloin and round steaks have surged as much as 10 per cent in the last year and in the U.S. beef steaks are fetching record prices.
