American Farm Bureau Federation President Zippy Duvall today called on President Trump to roll back plans to import an additional 300,000 metric tons of beef into the United States. An American Farm Bureau Federation analysis shows increasing imports has had little impact on ground beef prices at the grocery store. Meanwhile, cattle prices have weakened, with ranchers experiencing losses up to $300 to $400 per head.
“America’s farmers and ranchers are renewing their call to the president to reverse course on his plan to import foreign-raised beef. While we appreciate Mr. Trump’s goal of reducing grocery costs for America’s families, increasing beef imports has not brought prices down.
“Farm Bureau economists tracked 41 locations since Labor Day and found that, on average, prices have fallen only 16 cents per pound. Most prices were unchanged. Families are still facing historically high prices and the threat of a 60% increase in imports over 90 days caused a sharp drop in the prices paid to ranchers for their cattle.
“To put it simply, the plan undercut a fragile recovery in the cattle industry while failing to benefit consumers. We urge the president to stop importing additional beef and focus on long-term solutions that support rebuilding the U.S. herd, which benefits both farmers and consumers who want home-grown beef.”
Read the Farm Bureau Intel on beef prices here.
