Recent trade action has largely been absent from some of the latest government reports, but one industry official warns consumers will likely feel the impact in the coming months.
The Chief Executive at Omaha Steaks warns consumers might see their beef costs begin to increase around the third quarter, which is typically around July, August, and September, prime grilling season. He tells Fox Business the impact will likely happen over time.
10 percent of global tariffs kicked in earlier this month, including beef imports from suppliers in Australia, Brazil, and New Zealand.
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Cattle producers met with lawmakers to discuss the issues continuing to impact ranchers across the country.
The Meat Institute says meat sales reached a record $112 billion last year as protein demand remained strong nationwide.
The Perrier family says maintaining herd quality has helped keep the operation strong.
Current estimates are already hovering around 80 weeks.
