The Trump administration has announced a new plan aimed at lowering beef prices in the grocery stores, but the plan- which will bring up to 300,000 metric tons of ground beef into the U.S. over the next 90 days- will negatively impact the farm economy. Beef industry groups have called this a short-term solution that abandons long-term food security. John Newton, the vice president of public policy and economic analysis at the American Farm Bureau Federation, says the plan calls for importing a large volume of foreign beef.
Newton said importing such a significant volume will negatively impact U.S. cattle ranchers.
Newton said the market was already providing incentives for producers to begin rebuilding their herds, but the process of rebuilding will take time.
For more information, visit fb.org. In addition, the American Farm Bureau Federation was one of four groups that recently sent a joint letter to President Trump urging the Administration to reverse its proposed 90-day beef import plan. The full letter can be found here from the Livestock Marketing Association: https://bit.ly/4qCgoYB.
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