Treasury Secretary Scott Bessent warns of ‘perfect storm’ behind ground beef possibly soaring to $10

[mystery-ak]

 Treasury Secretary Scott Bessent warns of ‘perfect storm’ behind ground beef possibly soaring to $10 a pound
By Ryan King   
Published Nov. 16, 2025, 3:07 p.m. ET

WASHINGTON — The steaks are high.

Top Trump officials were out in front on Sunday, defending President Trump’s efforts to fight rising food prices following a report that ground beef is headed to $10 a pound.

Treasury Secretary Scott Bessent blamed the soaring beef prices on a “perfect storm” of problems inherited from the Biden administration as well — as the spread of a horrifying parasite from Mexico.

“The beef market is a very specialized market. It goes in long cycles, and this is the perfect storm, again, something we inherited,” Bessent told Fox News’ “Sunday Morning Futures.”

The question from Fox Business’ Maria Bartiromo, followed an interview last week with Omaha Steaks President and CEO Nate Rempe — who warned that ground beef could rise to $10-a-pound by next fall.

He said it likely won’t come down in price until 2027.

Ground beef cost an average of $6.32 in September — up from $5.67 a year before, according to data from the Federal Reserve Bank of St. Louis.

Bessent pointed out that the Trump admin last week eased tariffs on imports of beef, coffee, tropical fruits, and other food products to help address affordability concerns.

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https://nypost.com/2025/11/16/us-news/trump-official-addresses-report-that-ground-beef-is-headed-to-10-per-pound/

[libertybele]

There was an article in here from Omaha Steaks that predicted the same; $10/lb for ground beef, which of course means that nicer cuts of meats, especially a juicy, tender mouthwatering steak will also rise.

So as prices continue to rise and people can't afford beef, that puts many cattle ranchers out of business?  Not good, yet Trump wants to import beef???

[Kamaji]

There was an article in here from Omaha Steaks that predicted the same; $10/lb for ground beef, which of course means that nicer cuts of meats, especially a juicy, tender mouthwatering steak will also rise.

So as prices continue to rise and people can't afford beef, that puts many cattle ranchers out of business?  Not good, yet Trump wants to import beef???

Why would the increase in prices put cattle ranchers out of business?  The prices are rising because there aren't enough cattle ranchers supplying beef.  So the reduction in buyers that will come with increased prices will bring demand back in line with available supply.

[Timber Rattler]

Treasury Secretary Scott Bessent blamed the soaring beef prices on a “perfect storm” of problems inherited from the Biden administration as well...

Sorry Trump but you're president now.  Excuses like that won't cut it.

[roamer_1]

So as prices continue to rise and people can't afford beef, that puts many cattle ranchers out of business?  Not good, yet Trump wants to import beef???

This is a correction.

I will grant that Tumpy inherited the effects of a southwestern drought and regulation by the last administration. That's what caused the dilemma. That's what drove the price up.

And it will stay up for a least 2-4 years as the cycle of rebirth repairs the problem.

But in the face of all that, the dumbest thing possible would be to place a heavy tariff on imported beef - ESPECIALLY North, Central, and South American beef, which can be shipped quickly to fill market demand, and particularly Canadian beef, which is pretty much a part of the American herd, and a very close partner.

Stupid, stupid, stupid. Tumpy and Co. can cry the blues and point fingers and blame, but this is their fault. This is a direct result of demand coming against tariffs that prevent filling the gap, and dramatically raise the cost of filling the gap.

SURE, lower regs on American beef. Give American ranchers every help you can. Heck, even subsidize them till they can recover. But the ONLY WAY you get more beef until all that starts working is by import. So you LOWER cost and regs on that to encourage its delivery.

This math ain't hard.

[Weird Tolkienish Figure]

This is a correction.

I will grant that Tumpy inherited the effects of a southwestern drought and regulation by the last administration. That's what caused the dilemma. That's what drove the price up.

And it will stay up for a least 2-4 years as the cycle of rebirth repairs the problem.

But in the face of all that, the dumbest thing possible would be to place a heavy tariff on imported beef - ESPECIALLY North, Central, and South American beef, which can be shipped quickly to fill market demand, and particularly Canadian beef, which is pretty much a part of the American herd, and a very close partner.

Stupid, stupid, stupid. Tumpy and Co. can cry the blues and point fingers and blame, but this is their fault. This is a direct result of demand coming against tariffs that prevent filling the gap, and dramatically raise the cost of filling the gap.

SURE, lower regs on American beef. Give American ranchers every help you can. Heck, even subsidize them till they can recover. But the ONLY WAY you get more beef until all that starts working is by import. So you LOWER cost and regs on that to encourage its delivery.

This math ain't hard.

 

[IsailedawayfromFR]

The libs will simply claim that people are starving as they cannot use their SNAP benefits to buy beef.