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President Donald Trump has pledged to address the surging beef prices in the United States, which have reached record highs.
Trump expressed that his administration is actively working to reduce inflation. He claimed the prices of gasoline and groceries are down. However, he acknowledged that the current beef prices are “higher than we want it.”
“We are working on beef, and I think we have a deal on beef,” Trump told reporters at the White House on Thursday.
He assured that the beef prices will be reduced “pretty soon.” However, he did not provide any specifics on how this would be achieved.
“We did something, we worked our magic," the president added.
The surge in beef prices is a result of a prolonged drought in the western U.S., which led to a reduction in cattle herds and an increase in feeding costs.
US shoppers paid on average a record $6.318 a pound for ground beef in August, according to the US Bureau of Labor Statistics.
Between July and August 2025, retail beef and veal prices rose for the eighth consecutive month, reaching levels 13.9% higher than those recorded in August 2024, as per the U.S. Department of Agriculture (USDA).
The situation worsened after the USDA, in April, stopped importing Mexican livestock to prevent the spread of a harmful pest in Mexico. This resulted in additional supply shortages.
Moreover, the tariffs imposed by Trump on Brazilian products have reduced the import of Brazilian beef, which had previously been blended with U.S. beef to produce hamburger meat.
Meat processors like Tyson Foods, Inc. (NYSE:TSN), have been facing significant margin pressure due to rising beef prices and supply shortages. Analysts have suggested that it could take two to three years for the beef supply to stabilize.
Amid these challenges, companies like Shake Shack Inc. (NYSE:SHAK) have been implementing strategic price adjustments to counter the impact of beef cost hikes.
Price Action: On a year-to-date basis, the stock of Tyson Foods and Shake Shack declined 10.3% and 30%, respectively, as per data from Benzinga Pro.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
