Retail ground beef prices fell 1.3% in September, their biggest monthly drop since 2024, to an average of $7.062 per pound from August’s record $7.16, according to Bloomberg citing Bureau of Labor Statistics data. Steak prices also slid for a second straight month, down about 1% to $12.69 per pound, though beef prices remain near record highs amid the nation’s most severe cattle shortage in a generation. The Trump administration is seeking more supply, including allowing up to 300,000 tons of ground beef imports at lower tariff rates and reopening land ports to Mexican cattle, and the USDA raised its 2026 and 2027 import forecasts. The article notes high prices may have pushed consumers toward chicken and pork, and BofA Securities expects the cattle cycle could take several years to turn.
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Citing Bureau of Labor Statistics data, Bloomberg reports that US retail ground beef prices fell 1.3% in September, the biggest monthly decline since 2024, to an average of $7.062 a pound from August's record $7.16. Steak prices slid about 1% to $12.69 a pound, a second straight monthly decline, though prices remain near record highs. The Trump administration is trying to boost supply by allowing up to 300,000 tons of ground beef imports at lower tariffs and reopening several land ports to Mexican cattle. Beef import shipments through August rose 15% year on year, mainly from Australia and Mexico, though the spread of New World screwworm continues to depress imports. A BofA Securities analyst says the cattle cycle could take several years to turn.
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