What's causing beef prices to ‘beef up' in Kentucky?
WINCHESTER, Ky. (FOX 56) — As the weather warms up, your summer cookouts could be a little more expensive.
A February executive order by President Trump put tariffs on imports from Mexico, Canada, and China, three of the countries to which the United States exported nearly 10.5 billion worth of beef in 2024.
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'Canada is a partner that we [United States] import a lot of beef from, specifically live animals,' said Ben Pasley.
According to research from the USDA, beef and veal prices were 7.6% higher in February than they were a year ago. But it's not only tariffs that are beefing up prices.
'Between the tariffs, a shrinking cow herd, and raising prices just to continue to do business. I mean, prices only have one direction to go, and that's up,' Pasley said.
Pasley is the CEO of Mt. Folly Farm in Winchester.
He said he sees these issues firsthand as the farm's beef products are processed and distributed to local shops, like the Mercantile on Main and Full Circle Market in Winchester and Critchfield Meats Family Market on Southland Drive in Lexington.
He said the nation's cattle industry is at a 73-year low. That's a problem because there are fewer animals being processed into meat products for a market that demands them.
'It creates a lot of volatility in the pricing as we continue to fall further and further off of our inventory numbers; we're not able to replace those animals fast enough to then process those animals into consumable beef products,' Pasley told FOX 56.
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So, what's the solution to bringing beef prices down? Well, much like the several contributing factors to this issue, there's not one simple answer.
'Competition's the only thing that can reduce prices. The only other thing that would reduce prices is if demand falters,' said Pasley. 'As a nation, it's going to be imperative that we find a free market solution so that competition can return to the marketplace.'
Pasley said Mt. Folly's prices are comparable to other stores in its mission to provide the best quality meat products the farm can offer.
Ultimately, he encouraged people to buy local, pointing out the benefits for their health, their community, and their wallet.
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