Summary
Discussions are ongoing about the potential rise in beef prices to $10 per pound next year, linked to various factors including disease concerns, shrinking cattle herds, and increased demand. Treasury Secretary Scott Bessent mentioned immigration-related livestock disease as a concern, while other experts point to environmental and economic issues as primary causes. President Donald Trump is taking steps to manage beef prices, including importing more beef and investigating meatpacking companies.
Key Facts
- Beef prices in the U.S. might reach $10 per pound due to several factors.
- Treasury Secretary Scott Bessent mentioned the spread of screwworm disease from migrant cattle as a concern.
- U.S. cattle herds are at a 70-year low caused by droughts and increased farming costs.
- The screwworm disease prompted the U.S. to halt cattle imports from Mexico.
- Mexican cattle make up about 1% of the total U.S. cattle herd.
- There are no confirmed cases of screwworm-infected cattle in the U.S.
- President Trump is importing more beef from Argentina and investigating U.S. meat companies for possible pricing manipulation.
- Beef prices are projected to stay high until 2026 as ranchers rebuild herds.
