US Edition
Beef Prices Are the New Egg Prices. They’re Soaring
UNITED STATES, JUL 21 – Beef prices rose nearly 9% since January due to lowest herd sizes in 74 years, drought, rising feed costs, and trade tariffs, with imports now 8% of U.S. consumption, the American Farm Bureau said.
- Beef prices have reached record highs, with the average pound of ground beef rising to $6.12 in June, a 12% increase from the previous year, according to U.S. government data.
- The U.S. cattle herd has decreased to 86.7 million as of January 1, down 8% from the peak in 2019, marking the lowest number since 1951, according to the U.S. Department of Agriculture.
- Drought and a flesh-eating pest in Mexico have contributed to rising beef prices, reported the American Farm Bureau and noted by U.S. officials.
- Despite high prices, demand for beef remains strong in the U.S., according to Kansas State agricultural economist Glynn Tonsor.
83 Articles
83 Articles
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