In his latest attempt to lower the price of beef in grocery stores, President Trump says he plans to increase the volume of beef the U.S. imports from Argentina. According to the National Cattlemen’s Beef Association, this effort would risk harming the livelihoods of U.S. cattle producers while having little impact on the beef prices consumers are paying at the meat counter. Allendale commodity broker Greg McBride said we will have to wait and see what the details of this plan are, as we do not yet know specifically how much more beef will be imported.
The current Brazil tariffs have created a beef import gap for the U.S., so McBride said at least some of the added beef from Brazil will just fill that gap.
Since there is so much about this plan that is unknown, McBride said farmers don’t have to hit their marketing panic buttons yet.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
