Overview

• The average price of uncooked beef steak rose 8% over the past year to $11.49 per pound, while ground beef climbed nearly 12% to a record $6.12, according to USDA figures.
• U.S. cattle inventories stood at 86.7 million head on January 1, the smallest herd size since 1951, as prolonged drought and elevated feed costs prompted ranchers to shrink their stocks.
• In May, the USDA halted cattle imports from Mexico over a screwworm outbreak, and President Trump’s 50% tariff on Brazilian beef, effective August 1, threatens to curb roughly 23% of U.S. beef imports.
• Walmart opened its first fully company-owned beef processing facility in Olathe, Kansas, enabling it to work directly with suppliers and mitigate rising procurement expenses.
• Despite soaring prices, consumer demand for beef remains robust, though industry leaders predict price volatility will persist for the next two to four years.