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52°
Thursday, jun 4
Tag:
Beef
Business
Beef Prices Hit Record Highs As Herd Shrinks To 70-Year Low With No Relief In Sight
If steak night feels like a splurge and ground beef is denting the budget, you’re not imagining it. Beef prices are climbing to record highs with little sign of easing. According to USDA outlooks released Friday, Sept. 5, the spike is being driven by a deep supply crunch colliding with steady consumer demand. The US cattle herd is now the smallest since 1951, the result of years of herd liquidation during drought and high feed costs, and rebuilding will take time. Demand, meanwhile, hasn’t cracked. Americans continue to buy beef for its taste and versatility, which keeps pressure on …
Business
Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy
Prices for a wide range of products increased in July, even as inflation held steady, with economists expecting President Donald Trump's tariffs to further raise costs for many Americans. The Consumer Price Index rose by 0.2% in July and reached a yearly rate of 2.7%, according to data released by the Bureau of Labor Statistics on Tuesday, Aug. 12. That was barely lower than the 2.8% annual inflation expected in the Dow Jones forecast, CNBC reported. Core inflation, which doesn't include the volatile food and energy categories, jumped by 0.3%, bringing the annual rate to 3.1%. That's the hi…
Business
Beef Prices Keep Climbing To New Record Highs: Here's What's Fueling Soaring Costs
You may want to savor that next steak. It’s not getting cheaper anytime soon. Beef prices have hit an all-time high in the US, driven by a mix of short supply, steady demand, and mounting costs across the cattle industry. According to the American Farm Bureau and industry economists, the national cattle inventory is now the smallest it’s been since 1951. Many ranchers reduced herd sizes — or left the business entirely — after years of drought, inflation, and rising interest rates made farming unsustainable. Add in strong consumer demand and the result is tight supply pushing prices ever h…
Business
Ground Beef Prices Surge To Record High Before Fourth Of July Cookouts: Here's Why
If you plan on enjoying a burger on the Fourth of July, it may be more expensive than ever. The retail price of a pound of ground beef hit a record high of $5.98 in May, according to the Bureau of Labor Statistics. That's up by 18 cents from April and a 16.2% increase from the May 2024 average of $5.15. An American Farm Bureau Federation (AFBF) survey puts the retail price even higher, now averaging $6.67 a pound. Feeding 10 people a standard Independence Day cookout – including burgers, chicken, beans, and potato salad – costs about $70.92, or $7.09 a person. While the …
Lifestyle
Inflation, Trump Tariffs Hurting Americans' Fourth Of July Plans, Survey Finds: Here's How
The stars and stripes may fly high on the Fourth of July, but most Americans say they're feeling financially grounded in 2025. WalletHub conducted a survey, along with compiling facts and figures, about how the US will celebrate Independence Day in 2025. The studies were released on Wednesday, June 25. The personal finance website found that 79% of Americans believe the country's independence is threatened by the rising federal debt. More than half are adjusting their Fourth of July plans because of inflation, high prices, and a shaky economy under President Donald Trump's sweepin…
News
Steak Your Claim: Texas Wants To Rebrand New York Strip, NY Isn't Biting
A beef between Texas and New York is sizzling. Texas Lt. Gov. Dan Patrick is pushing to rename the New York strip steak as the "Texas strip" steak. The Republican said the Texas senate will file a resolution to make the name change official for restaurants and supermarkets in the Lone Star State. Lt. Gov. Patrick argues that the large cattle industry in Texas deserves the credit. "Just because a New York restaurant named Texas beef a New York Strip in the 19th century doesn't mean we need to keep doing that," he said in a social media post on Friday, Feb. 28. New York City resta…
Business
These Foods Expected To See Biggest Price Increases This Year, USDA Says
As consumers navigate the aisles in 2025, the cost of food remains a pressing concern. The US Department of Agriculture (USDA) has released its 2025 Food Price Outlook, forecasting trends that will shape grocery store receipts and restaurant bills in the months ahead. What’s Ahead for Food Prices? According to the USDA, overall food prices are expected to rise by 2.2 percent in 2025. While this is comparable to 2024’s rate, it remains slower than the historical average. However, variations in price changes across different food categories could impact consumer spending habits. Groce…
Business
Covid-
19: Shortages Of Meat, Eggs Could Be Coming, Supermarket CEO Says
A shortage of meat and eggs could impact supermarkets as the COVID-19 pandemic continues to cause supply chain issues, according to the CEO of a grocery store chain. John Catsimatidis, the CEO of supermarket chain Gristedes Foods, told Fox News that the Omicron variant is taking a toll on the supply chain. "What we're seeing the Northeast is price increases," he told the news station. "The prices of eggs are going up, the price of poultry the price of beef, all across the board, because they're supplying the product but increasing the prices to try to control the demand." The Wa…
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