Kelly Sabari of Fox Business joins ‘Verni and Company’. To discuss the decrease in cattle leading for a record high price of beef.
Beef prices In view of a drought, a record is high on a record high that has left the lowest level of cattle in 70 years amidst 70 years, resulting in the price for steak and ground beef.
The Bureau of Labor Price Index report of the Bureau of Labor Statistics for August showed an increase in beef prices in the last one year. On a year-on-year basis in August, ground beef prices were 12.8%, while beef roast was up to 13.6%, and steak prices were 16.6% higher. They Inflation data All food categories are above 3.2% year-on-year growth, as well as a 5.4% increase in meat prices from last year.
Cattle Rancher Mike Martz of Larsen Farms at Maple Park, Illinois, told Fox Business’ Kelly Sabiri that the drought affecting important Ranching areas has led to a decline in cattle inventions in recent years.
“The real issue here is dry that it happened many years ago, and Texas, Oklahoma, Kansas, South -East lost all their grasses, all their fodder. And when this happens, you have been liquid, and that’s what we have done,” Martz said. “We have received the lowest cow list since 1951, so this is the reason for this.”
Coffee prices can be more expensive as the prices rise in coffee
Consumers look at Houston, Texas, a beef package in a supermarket on 26 September, 2025. (Through Ronaldo Schemeidt / AFP Getty Image / Getty Image)
The overhead cost for cattle rankers has also climbed, higher trending with feed, labor, fuel and equipment expenses.
It is imported from diseases affecting cattle, with shipment Cattle live from Mexico Due to cases of the New World Screws suspended by the US Agriculture Department in May, a meat -eating parasite, which affects cattle close to the US border.
High fee The high beef prices that kill consumers on the checkout line have also been factor, with 76% tariffs and other beef producing countries facing beef from Brazil, as well as facing tariffs.
Ground beef prices were about 13% in August a year ago. (Daniel Karman / Picture Alliance through Getty Image / Getty Image)
Martz said it is important that Trump administration Help farmers and rankers impress with tariffs as some operations such as their crops and livestock rely.
Martz said, “This is important because the value we have dropped from the grain has come from the tariff, and we are looking at the input cost more because it has come from the tariff,” Martz said.
“In Larsen Farms here, we have got our cattle operations, we have got our crop operating. Cattle are earning money, crops are going to lose money. So, hopefully we can average together, but we need some support.”
Back-to-back high: bring to $ 62.6B in August and September tariff revenue
Beef imports have been forced by restrictions related to diseases affecting tariffs and cattle herds. (Joe Redal / Getty Images / Getty Images)
A business group representing cattle rankers said that high beef prices have helped for economic challenges faced in recent years under the Biden administration.
“Between the biden administration, between inflation, rising costs and government red tapes during the biden administration, cattle have been diluted by cattle farmers and rankers,” said CEO of National Catalmen’s Beef Association CEO Colin Woodle. “Better prices are now received for farmers and rankers for their cattle, a welcome change. Farming and farm families now have more resources that are finally found and keep the operation of their cattle operations for the future.
Get Fox Business when you click here
“These prices are required for the success of the US cattle industry, in collaboration with the relief by taxed by a large beautiful bill of President Trump. Family farmers and Ranchers now have more equipment that help them invest in their operations, buy new equipment and meet strong demand of high quality. American beef,
