Fox Business Corespondent Jeff Flock discusses record prices of beef because of problems with “Varney & Co.” offer
High beef prices weigh American businesses and consumers.
They forced some businesses to make hard decisions on how to handle increased costs, and some hand over costs to customers.
Rob Pondio, owner of Lombardi's Prime Meats in Philadelphia, said Fox Business Coresident Jeff Flock On “Varney & Co” that “there is only as much as you can absorb when it comes to hit in the lower line before you say that you have to raise these prices.”
Butcher, Passio said, said customers did not see the Balk at higher prices “because they see it”.
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Organic ground beef 30 October 2020, in Bavaria, Nuremberg (Daniel Karmann / Picture Alliance via Getty Images / Getty Images)
“He sees inflation. Sees prices. You know, everything is up, ”he told Flock.
Data on inflation statistics of working statistics measured by consumer price index (CPI) showed that beef and veal prices increased by 2.4% monthly month and 7.6% year -on -year in February.
CPI showed a 0.2% increase in the month and 2.8% jump.
Courtney Schmidt, a sector manager at Wells Fargo Agri-Food Institute, said Fox Business Last month, high beef prices were powered by stricter beef production in the US with consistent consumer demand.
A herd of American cattle is experiencing a cycle down, according to Schmidt in 2025 in 2025 at a historically low level at a historically low level.
According to the American Farm Bureau Federation, the demand for beef remained strong. (Kennedy Hayes / Fox News / Fox News)
The US Department of Agriculture (USDA) said at the end of January that US farms had 86.7 million cattle and calves heads. Specifically, the number of cowhide cows was 27.9 million, which, according to USDA, is a decrease of 1% compared to the same time last year.
“I know they are killing smaller cattle, so they try to kill them faster to create an supply that demand needs,” Poldio said.
Some large companies of beef sources from Canada and Mexico, Flock reported on “Varney & Co.”
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President Donald Trump has been stored 25% import tariffs on goods entering the US from these two countries on March 4 and recently introduced exceptions for Mexico and Canada on goods on the basis of an agreement on Mexico-Kanada by the beginning of April.
According to Poldio, such a fee for imported beef would “raise the price” and add that “consumers” would pay “for it.
“My philosophy is to sell it as low as you can show savings, value for the customer. And hopefully you have more customers to generate your income,” said Lombardi Prime Meats Flock.
Beef packages are exhibited for sale in the supermarket 12. January 2023 in Foster City, California. (Liu Guanguan/China News Service/VCG via Getty Images/Getty Images)
In the US in February an average of $ 5.63 for a pound while the price for a pound BOBERLESS SIRLOIN STEAK According to Federal Reserve Bank, St. Louis came to $ 11.90. These average prices were 9.6% AO 1.6% higher, respectively than in the same month in 2024.
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USDA screened in a report published this month that the production of American beef is ready to be £ 26.685 billion this year.
Daniell Genoves contributed to this report.
