US beef prices are 12% higher than a year ago, but ranchers, feedlot owners, and meatpackers report no increased profits due to surging input costs, high purchasing expenses, and market bottlenecks caused by a dwindling national cattle herd.
The Trump administration reportedly contacted major grocery chains like Walmart, Kroger, and Albertsons to urge them to reduce beef prices ahead of the Fourth of July holiday. Walmart announced discounts, with President Trump taking credit for the move.
Despite near-record beef prices driven by a shrinking U.S. cattle herd and high feed costs, American consumers are maintaining strong demand for steaks and ground beef, especially for quality options, as they prepare for Fourth of July grilling and other special occasions.
