July 7

7/7 – Grilling season lit a fire under beef prices, burgers in particular. Lean beef trimmings (90s) prices moved above $4 per pound for the first time ever on June 26 and closed at $4.11 on July 3, 9.3% above a year ago. With a consumer shift away from sugar/carbs to protein and full fat dairy products, demand for ground beef looks to remain sky high – especially given the elevated prices of other beef cuts. That demand is bumping up against limited supplies. The USDA projects a 2.3% drop in beef production in 2025, followed by an additional 4.1% decline in 2026. U.S. cattle inventories were already at 70-year lows to start the year. Then “new world screwworm” disease suppressed imports of feeder cattle from Mexico. Cattle futures prices for the first half of 2025 were 14.3% above a year ago. USDA projects cattle prices to average $221.51/cwt in 2025 and $228.50 in 2026, up from a previous record-high $187.12/cwt in 2024.