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From Fox Business: 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,” Remi said. “We need to rebuild the herd. And that’s [going to] happen over the next roughly 12 months.”
“My guess is by Q3 26, we’ll kind of start to come out of this,” he said.
READ MORE AT FOX Business.
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