US EditionTrump Expects Deal To Lower Beef Prices—After 14% Surge In Past Year
Beef prices rose nearly 14% in the past year due to drought and supply issues; the administration claims a new deal will reduce costs soon.
- On Thursday, President Donald Trump said in the Oval Office that his administration expects beef prices to fall `soon` and that `we worked our magic` on a deal to lower costs.
- Cattle shortages driven by drought have tightened supplies as cattle ranchers cut herds and the US Department of Agriculture halted Mexican livestock imports while tariffs slowed Brazilian beef arrivals.
- The Bureau of Labor Statistics found retail beef and veal prices rose 13.9% year-over-year, while average ground beef hit a record $6.31 a pound in August, up 1% from July.
- Last week, processors Tyson Foods and Cargill agreed to pay US$87.5 million to settle a federal lawsuit, while The Meat Institute seeks details and meatpackers report margin pressure.
- The US Department of Agriculture plans to detail recovery steps in mid-October after reporting slightly lower 2025 beef forecasts, while analysts say supply stabilization could take two to three years.
13 Articles
13 Articles
Live cattle prices may be under pressure today
“Live cattle prices may come under significant pressure on the opening this morning, especially after 10 consecutive higher closes in December live cattle, following President Trump’s announcement yesterday afternoon his administration is working to lower beef prices and has made…
Trump "Worked Magic" On Beef Deal - Likely With Argentina - As Cattle Futures Surge Most Since 1978
Trump "Worked Magic" On Beef Deal - Likely With Argentina - As Cattle Futures Surge Most Since 1978 U.S. cattle futures are on track for their largest year-to-date gain since 1978 amid an ongoing beef cow shortage. The shortage has driven prices for feedlot cattle to record highs, with charts resembling those of gold or silver, and pushed USDA ground beef prices at supermarkets to record highs. Although Goldman has noted that the 12-year cattle …
Trump Signals Action on Record-High Beef Prices
President Donald Trump revealed on Thursday that his administration is taking steps to solve the high prices of beef, and that he expects a fall in costs. The president did not disclose further information on the initiatives being taken as beef prices remain at record highs. The price of beef is “higher than we want it, and that’s going to be coming down pretty soon too. We did something,” Trump told reporters at the White House. “We are working…
Trump Vows To Lower Beef Prices 'Pretty Soon': 'We Have A Deal...' - Shake Shack (NYSE:SHAK), Tyson Foods (NYSE:TSN)
President Donald Trump has pledged to address the surging beef prices in the United States, which have reached record highs. A Deal To Bring Down Prices Trump expressed that his administration is actively working to reduce inflation. He claimed the prices of gasoline and groceries are down. However, he acknowledged that the current beef prices are “higher than we want it.” “We are working on beef, and I think we have a deal on beef,” Trump told…
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