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Beef Prices Surge Amid Cattle Shortage and Drought

10/3/2025

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Summary

Story summary

Beef prices hit highs due to a 70-year low in cattle inventory from drought and demand.
Ground beef up 12.8% and steak up 16.6% year over year in August.
USDA suspended cattle imports from Mexico due to New World screwworm infestations; FDA approved a cattle-only injection.
Ranchers face high costs, tariffs; demand plateaus, and prices stay elevated for 2-3 years.

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Story summary

Beef prices hit highs due to a 70-year low in cattle inventory from drought and demand.
Ground beef up 12.8% and steak up 16.6% year over year in August.
USDA suspended cattle imports from Mexico due to New World screwworm infestations; FDA approved a cattle-only injection.
Ranchers face high costs, tariffs; demand plateaus, and prices stay elevated for 2-3 years.