Why are beef prices so high and when will they come down?
HEBER, Calif. — Families across the country are dealing with sticker shock when they go to buy beef at the grocery store.So, what's behind the hike? And will President Joe Biden's recent initiative to lower the costs actually help?Jesse Larios, a longtime cattleman and beef advocate in Imperial Valley, California, says there isn't one simple answer to explain the hike. However, he says meat processing plants are part of the issue.
In many cases, the companies Larios and his fellow cattlemen work with have been told the plants don't have enough workers due to COVID-19.The Biden administration is attempting to fix some of the problems through policy changes. Biden's top economic adviser, Dr. Cecilia Elena Rouse, believes the program will eventually lower prices at the grocery store."Most outside forecasters say inflation will be half that it is today by this time next year," she said.Larios likes the White House plan, but he cautions costs are high for other reasons, too.
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