Ground Beef Costs Rise, Driven By Drought, High Feed Prices, And Tariff Risks Ground Beef Costs Rise

Benzinga

Ground beef prices have jumped 10.3% since June 2024, topping $6 per pound, according to The Cool Down. Steak prices are up 12.4% over the same period. Drought, high feed costs, and historically low herd sizes are straining supply, while extreme weather continues to disrupt recovery. Food economist David Ortega told Time magazine that prices could stay high for up to four years. Tariffs may add pressure, with Trump threatening a 50% tariff on Brazilian beef imports, a key ingredient in U.S. ground beef blends. A 2025 study also linked food price spikes worldwide to climate-driven weather events such as droughts and heatwaves.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Ground beef prices have jumped 10.3% since June 2024,

00:06topping $6 per pound according to The Cooldown.

00:09Steak prices are up 12.4% over the same period.

00:12Drought, high feed costs, and historically low herd sizes

00:14are straining supply,

00:16while extreme weather continues to disrupt recovery.

00:18Food economist David Ortega told Time magazine

00:20that prices could stay high for up to four years.

00:23Tariffs may add pressure,

00:25the president Trump threatening a 50% tariff

00:26on Brazilian beef imports,

00:28a key ingredient in U.S. ground beef blends.

00:30The 2025 study also linked food price spikes worldwide

00:33to climate-driven weather events

00:35such as droughts and heat waves.

00:37For all things money, visit Benzinga.com.

Category

Transcript

Comments

Recommended