US ground beef prices hit a new record

US ground beef prices reached a new record in August 2026. According to the US Bureau of Labor Statistics, the average price rose to $7.158 per pound, up 0.6% from July and 7.9% compared with a year earlier.

The main factor supporting prices remains the decline in the US cattle herd, which continues to constrain domestic beef supplies. However, the pace of price growth has moderated. Steak prices, not seasonally adjusted, fell by 1.9% in August.

To increase domestic supply, the administration of President Donald Trump announced in August that it would allow imports of up to 300 thsd tons of ground beef at reduced duties over the following 90 days. A significant share of these supplies is expected to come from Brazil.

In addition, the US Department of Agriculture reopened an Arizona port of entry for live cattle imports from Mexico in late August. Trade had been largely suspended for more than a year due to animal health restrictions aimed at preventing the spread of New World screwworm.

Despite measures to boost imports, US beef supplies remain tight, continuing to support elevated retail prices. Further price dynamics will depend on the pace of cattle herd rebuilding, import volumes and conditions in the live cattle market.

Tags: prices, Beef cattle, USA