US EditionGround beef prices could hit $10 a pound, Omaha Steaks CEO warns
Omaha Steaks CEO Nate Rempe cites a 70-year low U.S. cattle herd and strong demand as key factors pushing ground beef prices to $10 per pound by Q3 2026.
- Treasury Secretary Scott Bessent said on Sunday migrants brought New World screwworm and sick cattle, prompting halted Mexican beef imports and easing tariffs alongside probes of meatpackers.
- According to USDA data, the U.S. cattle herd totaled 94.2 million as of July 1, its lowest since 1973, while yearslong drought, tariffs, and an 8% protein demand rise pushed beef prices higher.
- Retail prices for steaks and ground beef indicate that in September, ground beef averaged $6.32, up 14%, and steaks $12.62, up 12.7%, with industry forecasts of $10 per pound by 2026, according to federal retail price data.
- Users on X mocked Bessent’s claim, and Erickson wrote, 'This White House needs a new message about the economy because the message sounds like the Biden White House's message, denying reality.'
- Prices are expected to remain high through 2026, while the administration plans to open 5 million acres of grazing land and ease some import restrictions, including Argentine beef.
38 Articles
38 Articles
Minister of Finance Scott Bessent claimed that rising beef prices are linked to a bovine disease that spreads through mass migration.
Pro-Trump commentator says White House 'denying reality' of high prices
President Donald Trump's administration is not taking high prices seriously enough, according to one conservative commentator.In a Monday night post to his official X account, Erick Erickson — the founder of conservative website Redstate — lamented to his 260,000-plus followers that the administration wasn't inspiring confidence among Americans that they were committed to lowering prices. While Erickson was once a "Never Trumper," he ultimately …
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Trump Officials Fault Biden Admin for Soaring Beef Costs
The Trump administration is blaming the Biden administration's "war on cattle" and illegal immigration for the sharp rise in beef prices hitting American consumers. According to federal retail price data, the average price of a pound of ground beef reached $6.32 in September, up 11.4% from the same time last year and the highest level in more than 40 years. The average price of a pound of uncooked beef steaks was $12.62, up 12.7% from a year ago…
Scott Bessent Says We've Got Cows
We already knew that Treasury Secretary Scott Bessent was an agricultural expert because of his years of experience as a soybean farmer investing in soybean farmland that he rents out to tenant farmers. Which brings to mind images of Scott Bessent on a porch in the Deep South, rocking gently in the afternoon heat, wearing a pair of suspenders and white pants as he fans himself and sips a mint julep.But we digress. Fresh on the heels of his doing…
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