Beef Prices Set Record as Supply Shrinks Despite Trump Push (1)

Beef prices show no sign of cooling, even as the Trump administration tries to rein in costs by boosting imports and support for domestic ranchers.

The average price for ground beef was $6.781 a pound in November, up 2.1% from September and 15% from a year earlier, the US Bureau of Labor Statistics said Thursday. Steak prices rose to $12.285 a pound, a modest increase from September.

Prices keep setting records amid a historically small US cattle herd, while demand remains especially strong for ground products, which are still among the cheapest options in the meat case.