Live cattle prices are racing for the sky, up nearly 12% in the previous two months. Most forecasts predict increasingly high beef prices in 2024 as ranchers strive to rebuild herds depleted by the double whammy of drought and the pandemic. As farmers rally across Europe and American consumers helplessly watch their grocery tabs soar, food prices are likely to continue their rise.
KLAR: No Quick Fix for America’s Beef Price Problem
On September 3, President Trump announced that up to 300,000 metric tons of foreign beef trimmings would be imported with no out-of-quota tariffs for 90 days. The move was designed to ease grocery prices. Instead, it fueled a fierce backlash from ranchers and farmers, who have suffered years of drought and low commodity prices. The … Read more