Summary
President Trump announced plans for a deal to reduce rising beef prices. He highlighted the role of inflation and a shortage of cattle due to drought as reasons for the price increase. The details of the deal are not yet clear, but it aims to make beef more affordable for consumers.
Key Facts
- President Trump promised a deal to lower beef prices.
- Beef prices have risen rapidly, leading inflation.
- The price of lean ground beef increased by 12% this year.
- Over the past five years, beef prices have gone up by 38%.
- A shortage of cattle, partly due to drought, has contributed to the price increase.
- Cattle inventories are at their lowest in 75 years.
- The specifics of the deal to address beef prices are not yet defined.
