Increased Beef Imports Have Not Lowered Prices For Consumers 

By Bernt Nelson, AFBF Economist and Faith Parum, P.h.D, AFBF Economist 

Key Takeaways

  • Record imports along with the suspension of the tariff-rate quota for beef trimmings have not lowered ground beef prices for consumers. In fact, American Farm Bureau analysis reveals that since the presidential proclamation, prices remained the same as before the tariff-rate quota changed in 30 of 41 tracked grocery stores across the U.S.
  • The market fundamentals that raised beef prices have not gone away. Tight cattle supplies and strong consumer demand continue to support higher consumer beef prices.
  • The August presidential proclamation directs USDA and USTR to monitor whether qualifying imported beef is sold at a discount and allows the quota expansion to be reconsidered if that price relief does not materialize.

Read more at: https://www.fb.org/intel/markets/increased-beef-imports-have-not-lowered-prices-for-consumers?fbclid=IwY2xjawUqVOhleHRuA2FlbQIxMQBwZG9mAXNydGMGYXBwX2lkEDIyMjAzOTE3ODgyMDA4OTIAAR75O-dW4ACfquHfE7Era4nxMtg8EDGDcKS2--9V0FQwzlVe6Dqb86WXSXr8xw_aem_mq1JxWClLl-pNf2cZF8lGA

Above information is sourced from the American Farm Bureau Federation.