Overview
- Beef prices are up roughly 13–14% year over year, with a sharp jump reported in September, according to official data cited in the coverage.
- The administration’s proposal would raise duty‑free Argentine beef imports from 20,000 to 80,000 metric tons annually, paired in reporting with an approximately $20 billion financial package for Argentina.
- Ranchers and industry groups condemned the plan as harmful to U.S. producers, and several Republican lawmakers, including Senate Majority Leader John Thune, warned it creates market uncertainty.
- California Governor Gavin Newsom criticized the move and the financial aid as helping a foreign country while U.S. families face high food costs.
- Analysts attribute the price spike to a national herd at its lowest since the early 1950s, high feed and fuel costs, and curtailed Mexican shipments due to screwworm outbreaks, with herd rebuilding expected to take years.