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Could More Cattle Cause Record Beef Prices to Drop? Ranchers Say It's Not that Simple
Ranchers say drought, long production timelines and concentrated processing will keep beef prices elevated even if the national herd grows.
- The average price of all uncooked ground beef reached $6.86 per pound in March, just 3 cents below the record high, as the U.S. cattle herd fell to 86 million head this year, according to the USDA.
- Drought has persisted across much of cattle country, with about 63% of the herd in drought areas, while border closures begun in late 2024 stopped about 1 million cattle from entering from Mexico.
- Tim Petry, a North Dakota State University livestock marketing specialist, noted ranchers hit a record 28.4 billion pounds of beef in 2022, though it takes 15 to 24 months for calves to mature before slaughter.
- The Meat Institute noted that retailers and food service companies set consumer prices, stating livestock producers were "earning record profits" while packers were losing money.
- About 26 billion pounds of beef are expected in 2026, but ranchers like Hatzenbuhler remain reluctant to grow the national herd, now its smallest in more than 75 years.
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Associated Press News+16 Reposted by 16 other sources
Could more cattle cause record beef prices to drop? Ranchers say it's not that simple
It’s never been so expensive for Americans to buy a steak or hamburger, but cutting those costs requires ranchers to raise more cattle, and that’s not an easy ask.
·United States
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Beef Prices Spike as Cattle Herds Shrink Nationwide
Source: Drbouz / Getty While prices for some grocery staples like eggs have dropped over the past year, beef continues to buck the trend, with ground beef costs remaining stubbornly high. According to data from the Federal Reserve Bank of St. Louis, ground beef reached $6.70 per pound in March, marking an increase of nearly 16% compared to a year earlier. Steak prices have followed a similar trajectory, rising 16% year-over-year to $12.73 per po…
Coverage Details
Total News Sources19
Leaning Left8Leaning Right4Center5Last UpdatedBias Distribution47% Left
Bias Distribution
- 47% of the sources lean Left
47% Left
L 47%
C 29%
R 24%
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