When I actually see prices coming down in the stores, I'll believe it.
Tariffs on beef? If the cattle are U.S. cattle then why the tariffs? What am I missing??
US cattle herds are at a low due to dry conditions in the southwest and increased fuel costs and other factors. The last administration was not rancher friendly, and herds were reduced in size to make the ends meet.
As a result of that, (much the result of Biden policy, some just the weather), domestic herds are being built. Cattle being sold for slaughter are mostly steers, the heifers are being held back for breeding. End result: less beef going to market, and higher prices. It will take a couple of years to build the herds back up; it takes longer to gestate a calf than a human.
In the meantime, Canada, Australia, New Zealand are top sources of beef, and Argentina has long been a source of canned (corned) beef for the US market. With tariffs lifted or reduced, that trade will be stimulated, and beef prices should see some relief for purchasers.
It's a balancing act, because too many imports will reduce the price point where the domestic herds will not be rebuilt as fully as they could be. Ideally, while we'd buy beef from overseas, too, our domestic herds should be larger in case there are overseas supply chain interruptions.
