Summary
Beef prices in the US are very high, creating political issues as President Trump tries to address them. His proposals, such as asking ranchers to lower prices and increasing beef imports, have caused concern among ranchers. Factors like a declining number of cattle and droughts have been pushing beef prices up.
Key Facts
- US beef prices have risen sharply, with retail prices for ground beef up 12.9% and beef steaks up 16.6% over the past year.
- The US cattle inventory is at its lowest in nearly 75 years, with the number of cattle ranches decreasing by 17% since 2017.
- President Trump is encouraging ranchers to lower their prices and has proposed increasing beef imports from Argentina.
- Ranchers are worried these proposals could harm their livelihoods without reducing grocery store prices.
- The Agriculture Department announced measures to boost domestic beef production, like opening more land for grazing.
- Some House Republicans and rancher associations have expressed concerns about Trump's import plans.
- Factors like consolidation in the meat processing industry and drought conditions have added pressure on ranchers.
- Experts predict high beef prices will continue until the end of the decade due to time needed to rebuild herds.
