Beef prices just keep going up, with no obvious relief in sight.
Despite the Trump administration's efforts to rein in the cost of beef products, The Bureau of Labor Statistics reports ground beef cost an average of $6.78 a pound in November. That is a 2.1% increase from September and 15% higher than this time last year.
RELATED NEWS | 'It's been really hard': Tariffs, drought push US beef prices to record highs
The beef industry has been battling multiple challenges: a prolonged drought across key cattle states, record‑high feed costs and the smallest U.S. cattle herd in 75 years. All have contributed to the record prices consumers are paying in grocery stores.
Tighter supplies are pushing up the cost of lean and ground beef, which are the types most commonly imported in the U.S. High tariffs on Brazilian beef imports and restrictions on Mexican beef imports tied to screwworm concerns are also driving prices higher.
The pressures have contributed to the expected closure of at least one large meat processing plant in Lexington, Nebraska. Tyson, which runs the plant, is expected to lay off some 3,200 workers in January. The cuts affect nearly a third of the town's population of around 11,000.
In November, President Donald Trump rolled back some of the tariffs he imposed on beef products from Argentina.
He acknowledged at the time that his tariff policies have translated to increased costs for American consumers.
“I say they may, in some cases," he said.
“But to a large extent they’ve been borne by other countries,” he said.
