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Story summary
- On October 16, 2025, President Donald Trump announced his administration aims to reduce beef prices.
- He spoke at the Oval Office and said, "I think we have a deal on beef that’s going to bring the price down."
- The U.S. Agriculture Department forecasts further declines in beef supply for 2026.
- In August, the average ground beef price reached $6.31 per pound, up 14% year to date, amid drought and tariffs.
