Beef prices surged to an all-time high in July as the market grappled with consistently strong demand and long-term issues in domestic production.
According to the latest consumer price index, which the Bureau of Labor Statistics published on Tuesday, the beef and veal index rose by 2.5% in July, compared to 0.2% for the broader food category. This capped an 11.3% increase over the past 12 months.
Meanwhile, the price of ground beef and uncooked beef steaks has risen by 11.5% and 12.4%, respectively, both now at record levels.
It was eggs, then coffee, now beef. They are starting to figure out that if one of the producers hikes up prices, all the other ones will follow suit because why not?
Trump is imposing tariffs on Brazil, and Brazil is one of the biggest beef producers in the world and the biggest choice producer, so that explains those two
It’s a golden age of profiteering.