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"This could send beef prices to record levels in 2024 and 2025, as we hit the supply bottom of the current cattle cycle," Nelson warned. RELATED: How to Make an Inexpensive Steak Taste Expensive
Uncooked beef roasts led that monthly jump with a 6.5% increase from June to July. Beef steaks were up 2.3%, while other cuts of beef and veal were up 3.6%.
The country's cattle inventory is shrinking and has been for a while. In its third straight yearly drop, the latest cattle report by the United States Department of Agriculture found that as of ...
The cattle cycle is the approximately 10-year period in which the number of U.S. beef cattle is alternatively expanded and reduced over several consecutive years in response to perceived changes in profitability by producers. Generally, low prices occur when cattle numbers (or beef supplies) are high, precipitating several years of herd ...
The USDA in December further revised down US egg supply estimates and raised price forecasts for 2025. Beef (+5% annually): US cattle inventory is at the lowest level in more than 70 years ...
The price of beef and veal grew 1.9% year over year but fell 1.1% month over month, the biggest monthly decline since June of 2022. A pound of 100% ground beef chuck cost $5.59 in October, a penny ...
U.S. consumers grappling with soaring inflation face more pain from high beef prices as ranchers are reducing their cattle herds due to drought and lofty feed costs, a decision that will tighten ...
The decline in cattle numbers led to soaring U.S. beef prices and a flurry of cheaper imports. Beef imports from Australia jumped 72% through July this year, according to U.S. Department of ...