June 4, 2025 6:00am EDT
Meat prices stay high as cattle numbers hit lowest level since 1950s
Omaha Steaks CEO says rebuilding cattle herds will take about a year to ease price pressures
By Madison Colombo FOXBusiness
Meat prices remain higher across the country, with staples like steak, chicken and ground beef still costing significantly more than they did a year ago. But one industry leader believes relief could be coming for shoppers, though not immediately.
"The number of head of cattle in the United States is at a low really not seen since the 1950s," said Nate Rempe, president and CEO of Omaha Steaks, on "Mornings with Maria."
"That supply pressure is really putting a lot of upward pressure on price, especially as demand is still so strong in the U.S."
According to the Bureau of Labor Statistics, meat prices have increased year-over-year, with steak up 7%, ground beef 10%, chicken nearly 3% and ham over 4%. Rempe believes the issue goes beyond tariffs and trade policy.
"Supply is a tricky issue. You can’t just flip a switch, adjust a tariff," he said. "We need to rebuild the herd. And that’s [going to] happen over the next roughly 12 months."
The American cattle herd hit historic lows this year, according to the U.S. Department of Agriculture. The latest USDA report shows a multi-year pattern of decline in the number of cows and heifers. At the same time, new tariffs imposed by the Trump administration are complicating the market. The U.S. imports a large amount of meat from Canada and Mexico, two countries affected by recent trade changes.
Despite the uncertainty, Rempe predicts the market may begin to stabilize next year as ranchers focus on growing herds.
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https://www.foxbusiness.com/media/meat-prices-stay-high-cattle-numbers-hit-lowest-level-since-1950s
