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Time of India
24-07-2025
- Business
- Time of India
After eggs, now ground beef prices are at record high, here's why, and is Trump behind the steep rise
The cost of ground beef in the United States is beginning to make a dent in the wallets of Americans and weigh down their shopping baskets. In June 2025, the prices of ground beef rose by 10.3% in comparison to the same time in 2024. It surpassed $6 per pound. Meanwhile, the price of steak increased by 12.4% within this period. Before the rise in ground beef prices , egg prices were hitting the roof. Earlier in 2025, egg prices more than doubled in price in April when compared to March 2024, according to TIME. The sharp rise was due to bird flu outbreaks on US farms, which led to over 23 million birds being culled. Meanwhile, in early July 2025, egg prices have fallen back down to $3.78 per dozen from $6.23 in April. Food prices as a whole have been on the rise by 2.7 percent over the last year. Explore courses from Top Institutes in Please select course: Select a Course Category Finance healthcare Cybersecurity Management Others Degree Data Analytics others Artificial Intelligence Technology MBA PGDM MCA Project Management Design Thinking Data Science Digital Marketing Operations Management CXO Data Science Leadership Healthcare Product Management Public Policy Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details Over the past 12 months, food prices as a whole have only risen by 2.7%, so what is causing this sharp increase in the price of ground beef? by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo What factors are causing sharp increase in ground beef prices Cattle herd sizes at record low Live Events Amid the prevailing high demand for ground beef products in the US, the supply has been a major issue. There have been only 87 million cattle and calves recorded across the country at the beginning of 2025, according to the American Farm Bureau Federation (AFBF). This signifies that cattle herd sizes are at the lowest in the country they have been for almost 75 years. According to AFBF economist Bernt Nelson, feed steer prices have hit record highs, prompting farmers to sell cattle for meat instead of breeding. Even with high prices, farmers still struggle to make a profit, so many might sell off their remaining cattle because of slim margins. One of the main high costs affecting sustainable profit for cattle ranchers is the price of feed, which ties back to adverse weather from climate change. Drought David Ortega, a food economist and professor at Michigan State University, said, 'One of the main drivers has been the effects of climate change on beef production in the U.S. This is something that doesn't cause prices to rise overnight, so there's a considerable lag involved,' according to TIME. A major drought hit the Great Plains states in 2022, forcing many cattle farms to sell their livestock. 'What that [drought] does is erase feed for producers. There's less forage availability, so they sell a lot of their animals because it becomes very costly to hold on to them,' Ortega further stated. A lot of the sold livestock, often slaughtered and turned into beef products, includes 'breeding stock,' meaning that in the long term, there is less capacity to breed new cows to keep up with consumer demand. Uncertainty due to Trump's tariffs Ortega has said that tariffs have started to play a key role in the rise of beef prices, triggering uncertainty and concerns pertaining to the future. One of the reasons behind the uncertainty is that despite a lot of domestic production, the US still imports a major amount of beef. Earlier in July 2025, President Donald Trump threatened to impose a 50% tariff against Brazil. 'If these do go into effect, or even higher tariffs [are implemented], then I think we're going to see a notable further increase on things like ground beef and hamburger meat,' Ortega said. Brazil is the world's largest exporter of beef. It witnessed an increase in sales of meat to the U.S. this year after a trade war between Washington, D.C., and Beijing escalated. In May, Brazilian exports to the U.S. rose by 20%, and current imports from the country are almost double what they were in June 2024, according to the USDA.
Economic Times
24-07-2025
- Business
- Economic Times
After eggs, now ground beef prices are at record high, here's why, and is Trump behind the steep rise
TIL Creatives The cost of ground beef in the United States is beginning to make a dent in the wallets of Americans and weigh down their shopping baskets. The cost of ground beef in the United States is beginning to make a dent in the wallets of Americans and weigh down their shopping baskets. In June 2025, the prices of ground beef rose by 10.3% in comparison to the same time in 2024. It surpassed $6 per pound. Meanwhile, the price of steak increased by 12.4% within this period. Before the rise in ground beef prices, egg prices were hitting the roof. Earlier in 2025, egg prices more than doubled in price in April when compared to March 2024, according to TIME. The sharp rise was due to bird flu outbreaks on US farms, which led to over 23 million birds being culled. Meanwhile, in early July 2025, egg prices have fallen back down to $3.78 per dozen from $6.23 in April. Food prices as a whole have been on the rise by 2.7 percent over the last year. Over the past 12 months, food prices as a whole have only risen by 2.7%, so what is causing this sharp increase in the price of ground beef? Cattle herd sizes at record low Amid the prevailing high demand for ground beef products in the US, the supply has been a major issue. There have been only 87 million cattle and calves recorded across the country at the beginning of 2025, according to the American Farm Bureau Federation (AFBF). This signifies that cattle herd sizes are at the lowest in the country they have been for almost 75 years. According to AFBF economist Bernt Nelson, feed steer prices have hit record highs, prompting farmers to sell cattle for meat instead of breeding. Even with high prices, farmers still struggle to make a profit, so many might sell off their remaining cattle because of slim margins. One of the main high costs affecting sustainable profit for cattle ranchers is the price of feed, which ties back to adverse weather from climate change. Drought David Ortega, a food economist and professor at Michigan State University, said, 'One of the main drivers has been the effects of climate change on beef production in the U.S. This is something that doesn't cause prices to rise overnight, so there's a considerable lag involved,' according to TIME.A major drought hit the Great Plains states in 2022, forcing many cattle farms to sell their livestock. 'What that [drought] does is erase feed for producers. There's less forage availability, so they sell a lot of their animals because it becomes very costly to hold on to them,' Ortega further stated. A lot of the sold livestock, often slaughtered and turned into beef products, includes 'breeding stock,' meaning that in the long term, there is less capacity to breed new cows to keep up with consumer demand. Uncertainty due to Trump's tariffs Ortega has said that tariffs have started to play a key role in the rise of beef prices, triggering uncertainty and concerns pertaining to the future. One of the reasons behind the uncertainty is that despite a lot of domestic production, the US still imports a major amount of beef. Earlier in July 2025, President Donald Trump threatened to impose a 50% tariff against Brazil. 'If these do go into effect, or even higher tariffs [are implemented], then I think we're going to see a notable further increase on things like ground beef and hamburger meat,' Ortega said. Brazil is the world's largest exporter of beef. It witnessed an increase in sales of meat to the U.S. this year after a trade war between Washington, D.C., and Beijing escalated. In May, Brazilian exports to the U.S. rose by 20%, and current imports from the country are almost double what they were in June 2024, according to the USDA.
NBC News
23-07-2025
- Business
- NBC News
High beef prices will likely linger, even after cookout season ends
Beef prices are coming in hot this summer. Steak and ground beef prices just hit record highs, according to June inflation data from the Bureau of Labor Statistics, which has tracked beef prices going back to 1984. Still, demand has stayed strong. Beef is the second most-consumed meat in the U.S., after all, and summer barbecue season is a particularly popular time. 'Peak demand time for beef typically happens around the Fourth of July,' said Bernt Nelson, an agricultural economist at the American Farm Bureau Federation. 'Through the second half of the year, demand kind of slows down seasonally for beef.' That means prices could also come down a bit. But even after Americans put their grills away for the season, the U.S. beef industry will continue grappling with long-term supply issues. Cattle herds have been shrinking over the last few decades. They dropped another 1% from 2024 to 2025, according to the U.S. Department of Agriculture. The number of beef cows that have calved is also down 1%, reaching a new record low. That means the current cattle herd is the nation's smallest since 1951, according to the Farm Bureau. Climate issues have exacerbated the shortage. Agricultural experts say drought over the last few years in the Plains and Upper Midwest has dried up the supply of grass for cattle. It has forced farmers to reduce their flocks, and the cattle count still hasn't recovered. 'The drought conditions really placed a lot of stress on our farmers and their pastures that they rely on to help feed cattle,' Nelson said. 'When this happened, they placed high numbers of females on feed for market rather than holding them back to replace the herd. And so that led us to this slow but steady contraction in the cattle herd.' Import issues have also restricted the cattle supply. The U.S. government suspended cattle imports from Mexico in May due to the parasitic screwworm affecting cattle there. More challenges await. President Donald Trump's threatened 50% tariff on imports from Brazil, slated to start Aug. 1, could tighten supply even more. About 8% of U.S. beef is imported from places like Brazil, Argentina and Australia, said Michael Swanson, Wells Fargo's chief agricultural economist. With the looming tariffs, Brazilian meatpackers are rethinking exporting to the U.S., according to an industry lobby group. Ground beef is averaging $6.12 per pound, up 11.84% from a year ago, according to the BLS, meaning a 6-ounce hamburger patty could cost around 24 cents more now than last summer. Steak is averaging $11.49 a pound, up 8.05% from a year ago. All told, the Agriculture Department predicts beef and veal prices could rise 6.8% overall this year. It expects smaller price increases for pork and poultry. Companies, in turn, are flocking more to chicken, with fast-food chains like McDonald's, Wendy's and Chipotle all offering new chicken options. Tyson Foods, one of America's largest meat companies, has also recently launched new chicken items. 'When we've got an environment that is challenging in beef and you've got an environment where there's probably less availability of beef, it's helpful and certainly in the total complex to be able to manage that multi-protein, multichannel portfolio,' Tyson Foods Chief Financial Officer Curt Calaway said in a May presentation. Walmart is shifting its beef strategy, opening its first-ever owned and operated case-ready beef facility last month. The retail and grocery giant says the new facility will help it increase capacity and improve its supply chain, cutting costs and helping consumers get high-quality beef at low prices. While cattle farmers are trying to rebuild their herds, the recovery for the beef industry may take years, agricultural experts said. 'If I want to have more chickens, I just have to wait three to six months,' Swanson said. 'If I want to wait for more cattle, I gotta wait three to four years to get a lot more cattle.'
Yahoo
24-02-2025
- Business
- Yahoo
To help solve its egg price crisis, America is turning to Turkey (the country)
America's egg shortage has led US businesses to turn to Turkey. Not the bird, the country. Turkey plans to export 420 million eggs to the United States this year, the most ever, according to the Egg Producers Central Union in Turkey. The ramped-up exports come as avian flu has killed more than 140 million egg-laying birds in the United States since 2022, and 17 million alone in November and December. Fewer birds means fewer eggs — and higher prices. 'Bird flu is the main reason of increasing export capacity,' said Ibrahim Afyon, chairman of the Egg Producers Central Union in Turkey. A carton of a dozen large Grade A eggs hit an average of $4.95 last month, according to the Bureau of Labor Statistics. Costco and Trader Joe's are limiting egg purchases per customer and Waffle House is charging a 50-cent surcharge per egg. It will take months to replace lost flocks, and the US Department of Agriculture is forecasting an additional 20% increase in egg prices this year. The price of eggs rose 15.2% in January and are up 53% year over year, according to January's Consumer Price Index. US businesses have taken it upon themselves to look for supply beyond our borders. And Turkey is the only country the United States imports eggs from, according to the American Farm Bureau Federation. Still, experts warn the increased egg imports won't make much of a dent in America's egg shortage. 'While this is enough to offset some productions losses, it won't provide much support if HPAI (avian flu) continues at its current pace,' said Bernt Nelson, an economist at the American Farm Bureau Federation. The US produces more than 7.5 billion eggs per year on average, according to the American Egg Board. That number will fall this year as the avian flu continues to claim the lives of more birds. 'We support the temporary import of egg products to help ease the strain on the US egg supply as we navigate this challenging time of continued highly pathogenic avian influenza detections,' said Chad Gregory, president and CEO of United Egg Producers. 'Like everyone, we want to solutions to this situation.' One solution, at least for now, is importing more eggs. In 2024, the United States imported 71 million eggs from Turkey, according to the USDA. This year's imports will be nearly six times that based on the Egg Producers Central Union's estimates. By July, Turkey will deliver 240 million eggs to the United States, with the rest coming by the end of the year. Turkey is the fifth-largest egg exporter in the world behind the Netherlands, United States, Poland and Germany. In 2023, Turkey exported $411 million worth of eggs worldwide, according to the Observatory of Economic Complexity. Turkey's export volume to the United States this year will total $37 million, according to the Egg Producers Central Union in Turkey. Doug Corwin, who had to cull his flock of 99,000 ducks on his farm in Long Island after the virus was detected, says it's time to start vaccinating birds against the virus. Last week the USDA issued a conditional license for an avian flu vaccine for chickens. Zoetis, the manufacturer behind the vaccine, said the 'license was granted on the demonstration of safety, purity, and reasonable expectation of efficacy based on serology data.' But vaccinations create a literal chicken and egg problem: Although many egg producers favor vaccinating chickens, poultry producers worry vaccinations would create trade problems. If a country starts vaccinating its birds, the virus could be seen as endemic, and it can be hard to detect the virus in inoculated birds. Countries could become less eager to buy poultry from the United States, which is the world's largest poultry producer and second-largest exporter of poultry meat, according to the USDA. Meanwhile, the White House says it is working on a plan to combat the avian flu. On Sunday, Kevin Hassett, the Director of the White House Economic Council, said on CBS' 'Face the Nation' that the plan involves biosecurity, medication and a perimeter. 'Having a smart perimeter is what we're working on, and we're finalizing the ideas about how to do that with the best scientists in government. And that's the kind of thing that should have happened a year ago, and if it had, then egg prices would be, you know, a lot better than they are now,' Hassett said on 'Face the Nation.' Experts in the agricultural community say more funding and staffing is needed in research and surveillance of the virus. This comes at a time when the Trump administration is doing the opposite. There have been thousands of reported layoffs at agencies including the CDC and USDA. 'If ever there was a time when it was absolutely critical to not infuse more chaos into the system, this is it,' said Rebecca Carriere Christofferson, an associate professor of pathobiological studies at the LSU School of Veterinary Medicine. Earlier this week, the USDA had to revoke termination letters it sent to workers supporting the bird flu response. CNN's Isil Sariyuce and Maria Sole Campinoti contributed to this report.
CNN
24-02-2025
- Business
- CNN
To help solve its egg price crisis, America is turning to Turkey (the country)
America's egg shortage has led US businesses to turn to Turkey. Not the bird, the country. Turkey plans to export 420 million eggs to the United States this year, the most ever, according to the Egg Producers Central Union in Turkey. The ramped-up exports come as avian flu has killed more than 140 million egg-laying birds in the United States since 2022, and 17 million alone in November and December. Fewer birds means fewer eggs — and higher prices. 'Bird flu is the main reason of increasing export capacity,' said Ibrahim Afyon, chairman of the Egg Producers Central Union in Turkey. A carton of a dozen large Grade A eggs hit an average of $4.95 last month, according to the Bureau of Labor Statistics. Costco and Trader Joe's are limiting egg purchases per customer and Waffle House is charging a 50-cent surcharge per egg. It will take months to replace lost flocks, and the US Department of Agriculture is forecasting an additional 20% increase in egg prices this year. The price of eggs rose 15.2% in January and are up 53% year over year, according to January's Consumer Price Index. US businesses have taken it upon themselves to look for supply beyond our borders. And Turkey is the only country the United States imports eggs from, according to the American Farm Bureau Federation. Still, experts warn the increased egg imports won't make much of a dent in America's egg shortage. 'While this is enough to offset some productions losses, it won't provide much support if HPAI (avian flu) continues at its current pace,' said Bernt Nelson, an economist at the American Farm Bureau Federation. The US produces more than 7.5 billion eggs per year on average, according to the American Egg Board. That number will fall this year as the avian flu continues to claim the lives of more birds. 'We support the temporary import of egg products to help ease the strain on the US egg supply as we navigate this challenging time of continued highly pathogenic avian influenza detections,' said Chad Gregory, president and CEO of United Egg Producers. 'Like everyone, we want to solutions to this situation.' One solution, at least for now, is importing more eggs. In 2024, the United States imported 71 million eggs from Turkey, according to the USDA. This year's imports will be nearly six times that based on the Egg Producers Central Union's estimates. By July, Turkey will deliver 240 million eggs to the United States, with the rest coming by the end of the year. Turkey is the fifth-largest egg exporter in the world behind the Netherlands, United States, Poland and Germany. In 2023, Turkey exported $411 million worth of eggs worldwide, according to the Observatory of Economic Complexity. Turkey's export volume to the United States this year will total $37 million, according to the Egg Producers Central Union in Turkey. Doug Corwin, who had to cull his flock of 99,000 ducks on his farm in Long Island after the virus was detected, says it's time to start vaccinating birds against the virus. Last week the USDA issued a conditional license for an avian flu vaccine for chickens. Zoetis, the manufacturer behind the vaccine, said the 'license was granted on the demonstration of safety, purity, and reasonable expectation of efficacy based on serology data.' But vaccinations create a literal chicken and egg problem: Although many egg producers favor vaccinating chickens, poultry producers worry vaccinations would create trade problems. If a country starts vaccinating its birds, the virus could be seen as endemic, and it can be hard to detect the virus in inoculated birds. Countries could become less eager to buy poultry from the United States, which is the world's largest poultry producer and second-largest exporter of poultry meat, according to the USDA. Meanwhile, the White House says it is working on a plan to combat the avian flu. On Sunday, Kevin Hassett, the Director of the White House Economic Council, said on CBS' 'Face the Nation' that the plan involves biosecurity, medication and a perimeter. 'Having a smart perimeter is what we're working on, and we're finalizing the ideas about how to do that with the best scientists in government. And that's the kind of thing that should have happened a year ago, and if it had, then egg prices would be, you know, a lot better than they are now,' Hassett said on 'Face the Nation.' Experts in the agricultural community say more funding and staffing is needed in research and surveillance of the virus. This comes at a time when the Trump administration is doing the opposite. There have been thousands of reported layoffs at agencies including the CDC and USDA. 'If ever there was a time when it was absolutely critical to not infuse more chaos into the system, this is it,' said Rebecca Carriere Christofferson, an associate professor of pathobiological studies at the LSU School of Veterinary Medicine. Earlier this week, the USDA had to revoke termination letters it sent to workers supporting the bird flu response. CNN's Isil Sariyuce and Maria Sole Campinoti contributed to this report.
