US EditionGround Beef Prices Could Hit $10 a Pound, Omaha Steaks CEO Warns
Ground beef prices may hit $10 per pound due to a 70-year low cattle herd and high demand, with increases seen in the latest U.S. inflation data.
- On Friday, Nate Rempe, Omaha Steaks President and CEO, warned ground beef may reach $10 a pound by the third quarter of '26 and not fall before 2027.
- Record drought left the U.S. cattle herd at a 70-year low, causing ranchers to retain heifers and reduce cattle sent to market, shrinking supply.
- CPI data show beef and veal rose 14.7% year-over-year in September while uncooked ground beef was up 12.9%, and Nate Rempe said on 'Mornings with Maria', `Look, domestically, we need to get our arms around it...`
- Omaha Steaks said it will hold its primary gift packages at the same prices as the last 48 months while driving internal efficiencies, and Rempe warned `And it's gonna be tough on families. I mean, that's gonna be quite a shock.`
- The trade deal with Argentina includes lower tariffs on Argentine beef but does not increase the U.S. import quota, and Argentinian beef makes up about 2% of U.S. supply, limiting quick relief.
16 Articles
16 Articles
Omaha Steaks CEO warns American families will soon face '$10-a-pound reality' for beef
America’s beef bills are set to keep climbing, according to Omaha Steaks President and CEO Nate Rempe, who cautioned that the nation’s shrinking cattle supply and record demand are driving a "$10-a-pound reality" that could stretch family budgets for years."Look, domestically, we need to get our arms around it. Last time we got together, we talked about how the herd is at a 70-year low, demand is at an all-time high and the net result is prices …
Due to various factors, U.S. beef prices remain high. Amid widespread complaints about the exorbitant price of beef, Nate Rempe, president and CEO of Omaha Steakhouse, warned that Americans could see ground beef reaching $10 per pound next year. Rempe made these remarks on Friday (November 14th) on Fox's "Mornings with Maria" program...
Beef, such as steak, hamburgers, and ground beef, will become significantly more expensive again next year, following this year's sharp price increases. This is partly due to the increasing number of farms in the Netherlands disappearing due to nitrogen regulations. "Livestock farms are being bought out now, so the availability of meat is expected to decrease further. This will drive up prices," says Marian Lemsom, director of the Royal Dutch Bu…
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