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According to the US Department of Labour’s Consumer Price Index, beef and veal prices increased by 5.5 per cent in January.
Courtney Schmidt, Sector Manager at the Wells Fargo Agri-Food Institute, attributed the rise in beef prices to tighter domestic production alongside steady consumer demand.
Speaking to Fox Business, Schmidt said that US cattle inventories are at historically low levels in 2025.
Bernt Nelson, an economist at the American Farm Bureau Foundation, noted that as of January 1, the US cattle and calf inventory had fallen by around 1 per cent year-on-year.
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