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Yahoo
6 days ago
- Business
- Yahoo
Beef prices have soared in the US - and not just during grilling season
OMAHA, Neb. (AP) — Anyone firing up the grill this summer already knows hamburger patties and steaks are expensive, but the latest numbers show prices have climbed increasingly fast. And experts say consumers shouldn't expect much relief soon either. The average price of a pound of ground beef rose to $6.12 in June, up nearly 12% from a year ago, according to U.S. government data. The average price of all uncooked beef steaks rose 8% to $11.49 per pound. But this is not a recent phenomenon. Beef prices have been steadily rising over the past 20 years because the supply of cattle remains tight while beef remains popular. In fact, the U.S. cattle herd has been steadily shrinking for decades. As of Jan. 1, the U.S. had 86.7 million cattle and calves, down 8% from the most recent peak in 2019. That's the lowest number of cattle since 1951, according to the U.S. Department of Agriculture. Many factors including drought and cattle prices have contributed to that decline. And now the emergence of a pesky parasite in Mexico and the prospect of widespread tariffs may further reduce supply and raise prices. Here's a look at what's causing the price of beef to rise. Smaller herds The American beef industry has gotten better at breeding larger animals, so ranchers can provide the same amount of beef with fewer cattle, said David Anderson, a livestock economist at Texas A&M. Then in 2020, a three-year drought began that dried out pastures and raised the cost of feed for cattle, according to the American Farm Bureau. Drought has continued to be a problem across the West since then, and the price of feed has put more pressure on ranchers who already operate on slim profit margins. In response, many farmers slaughtered more female cattle than usual, which helped beef supplies in the short term but lowered the size of future herds. Lower cattle supplies has raised prices. In recent years cattle prices have soared, so that now animals are selling for thousands of dollars apiece. Recent prices show cattle selling for more than $230 per hundredweight, or hundred pounds. Those higher prices give ranchers more incentive to sell cows now to capture profits instead of hanging onto them for breeding given that prices for those calves in the years ahead may decrease, Anderson said. 'For them, the balance is, 'Do I sell that animal now and take this record high check?' Or 'do I keep her to realize her returns over her productive life when she's having calves?'' Anderson said. 'And so it's this balancing act and so far the side that's been winning is to sell her and get the check.' Disease dilemma The emergence of a flesh-eating pest in cattle herds in Mexico has put extra pressure on supply because officials cut off all imports of cattle from south of the border last year. Some 4% of the cattle the U.S. feeds to slaughter for beef comes from Mexico. The pest is the New World screwworm fly, and female cows lay eggs in wounds on warm-blooded animals. The larvae that hatch are unusual among flies for feeding on live flesh and fluids instead of dead material. American officials worry that if the fly reaches Texas, its flesh-eating maggots could cause large economic losses as they did decades ago before the U.S. eradicated the pest. Agricultural economist Bernt Nelson with the Farm Bureau said the loss of that much cattle is putting additional pressure on supply that is helping drive prices higher. Tariff trouble President Donald Trump's tariffs have yet to have a major impact on beef prices but they could be another factor that drives prices higher because the U.S. imports more than 4 million pounds of beef every year. Much of what is imported is lean beef trimmings that meatpackers mix with fattier beef produced in the U.S. to produce the varieties of ground beef that domestic consumers want. Much of that lean beef comes from Australia and New Zealand that have only seen a 10% tariff, but some of it comes from Brazil where Trump has threatened tariffs as high as 50%. If the tariffs remain in place long-term, meat processors will have to pay higher prices on imported lean beef. It wouldn't be easy for U.S. producers to replace because the country's system is geared toward producing fattier beef known for marbled steaks. Prices will likely stay high It's the height of grilling season and demand in the U.S. for beef remains strong, which Kansas State agricultural economist Glynn Tonsor said will help keep prices higher. If prices remain this high, shoppers will likely start to buy more hamburger meat and fewer steaks, but that doesn't appear to be happening broadly yet — and people also don't seem to be buying chicken or pork instead of beef. Nelson said that recently the drought has eased — allowing pasture conditions to improve — and grain prices are down thanks to the drop in export demand for corn because of the tariffs. Those factors, combined with the high cattle prices might persuade more ranchers to keep their cows and breed them to expand the size of their herds. Even if ranchers decided to raise more cattle to help replace those imports, it would take at least two years to breed and raise them. And it wouldn't be clear if that is happening until later this fall when ranchers typically make those decisions. 'We've still got a lot of barriers in the way to grow this herd,' Nelson said. Just consider that a young farmer who wants to add 25 bred heifers to his herd has to be prepared to spend more than $100,000 at auction at a time when borrowing costs remain high. There is typically a seasonal decline in beef prices as grilling season slows down into the fall, but those price declines are likely to be modest. ___ Associated Press writer Dee-Ann Durbin contributed to this report from Detroit. Josh Funk, The Associated Press
Washington Post
08-07-2025
- Politics
- Washington Post
Independent Dan Osborn launches new US Senate bid to challenge Nebraska Republican Pete Ricketts
OMAHA, Neb. — A former labor union boss who drew national headlines in his race last year as an independent candidate challenging Nebraska Republican U.S. Sen. Deb Fischer is again throwing his hat into the political ring — this time to challenge Nebraska's junior senator, Republican Pete Ricketts , in 2026.
Associated Press
08-07-2025
- Business
- Associated Press
Independent Dan Osborn launches new US Senate bid to challenge Nebraska Republican Pete Ricketts
OMAHA, Neb. (AP) — A former labor union boss who drew national headlines in his race last year as an independent candidate challenging Nebraska Republican U.S. Sen. Deb Fischer is again throwing his hat into the political ring — this time to challenge Nebraska's junior senator, Republican Pete Ricketts, in 2026. 'I'm running for Senate because Congress shouldn't just be a playground for the rich,' Dan Osborn said in a video released Tuesday to announce his candidacy. He criticized Ricketts, a former two-term Nebraska governor and multimillionaire who is the son of billionaire TD Ameritrade founder Joe Ricketts, as a lawmaker who 'bought his Senate seat.' Ricketts' campaign responded by touting his voting record 'to secure the border and cut taxes for Nebraska workers' and painted Osborn as beholden to Democrats. 'Dan Osborn is bought and paid for by his liberal, out-of-state, coastal donors,' Ricketts campaign spokesman Will Coup said in a written statement. That was a reference to the nearly $20 million Osborn received last year from political action committees, including those that tend to support Democratic candidates. As he insisted last year, Osborn said he would serve as an independent if elected and has no plans to caucus with either Democrats or Republicans. He pointed to Ricketts' vote for Republicans' massive tax cut and spending bill last week that contains $4.5 trillion in tax cuts and cuts Medicaid and food stamps by $1.2 trillion. 'Congress spends their time bickering about how much we should cut taxes for billionaires and multinational corporations. We're just an afterthought,' Osborn said. 'My kids and yours deserve an American dream too.' It's a familiar refrain from Osborn, who centered his campaign last year on representing working families he says are being steamrolled by an ever-growing wealth gap and policies that favor the rich over the middle class. Osborn was known in labor union circles as the Omaha industrial mechanic who successfully led a labor strike at Kellogg's cereal plants in 2021, winning higher wages and other benefits. He was a political newcomer when he challenged Fischer, outraising her by more than $1 million and coming within 6 percentage points of the two-term senator, who was used to winning by wide margins. Osborn acknowledged that it would be difficult to pose a campaign finance threat to Ricketts, one of the richest members of the U.S. Senate. Federal campaign finance reports show Ricketts' campaign had more than $800,000 cash on hand at the end of March. But Osborn believes his populist message appeals more to Nebraska voters than campaign war chests. 'I think if you throw $100 million of your own money into Nebraska, I don't know that that moves the needle any more than $30 does,' he said. 'I think we're going to win this the old school way: Go out to where people are. Just hold town hall after town hall and talk with the good people in Nebraska.' Ricketts is seeking reelection next year after winning a special election last year to finish out the term of former Sen. Ben Sasse, who resigned in 2022. Ricketts was appointed to the seat by his successor, fellow Republican Gov. Jim Pillen, to fill the vacancy — a move widely panned as having the appearance of backroom dealing, as Ricketts had heavily supported and donated more than $1 million to help elect Pillen.
Washington Post
19-05-2025
- Politics
- Washington Post
In pro-military Nebraska, a lawmaker's stand over Hegseth tests the GOP
OMAHA — A few weeks ago, the Republican congressman who represents this fervently pro-military section of Nebraska took a stand against the man in charge of the Pentagon. Rep. Don Bacon, a retired Air Force general who once commanded the nearby Offutt Air Force Base, last month became the first — and to date only — GOP lawmaker to gamble with his political future by demanding the ouster of Defense Secretary Pete Hegseth.
New York Times
03-05-2025
- Sport
- New York Times
Connections: Sports Edition hints for May 3, 2025, puzzle No. 222
Need help with today's Connections: Sports Edition puzzle? You've come to the right place. Welcome to Connections: Sports Edition Coach — a spot to gather clues and discuss (and share) scores. A quick public service announcement before we continue: The bottom of this article includes one answer in each of the four categories. So if you want to solve the board hint-free, we recommend you play before continuing. Advertisement You can access Saturday's game here. Game No. 222's difficulty: 3.5 out of 5 Scroll below for one answer in each of the four categories. . . . . . . . . . . . . . . . . . . . . Yellow: DEFEND Green: TURN Blue: OMAHA Purple: INDIAN WELLS The next puzzle will be available at midnight in your time zone. Thanks for playing — and share your scores in the comments! (Illustration: John Bradford / The Athletic)
