US to import 660 million pounds of beef to lower prices, raising concerns for ranchers

President Donald Trump announced that 300,000 metric tons, or roughly 660 million pounds, of ground beef will be imported into the United States over the next 90 days to lower food costs, with the beef sold at 25% below current market prices.

The Get the Facts Data Team found that the average price of ground beef climbed to $6.89 per pound last month. A major factor behind the increase is the U.S. cattle supply shrinking to its lowest level in over six decades, partly due to drought and high feed costs.