Record Beef Prices Sour the Summer BBQ  | Presented by CME Group

Summary

The video reports on record US ground beef prices driven by drought and a shrinking cattle herd, with USDA projecting further price increases in 2026. It introduces new CME Group 90% and 50% beef trim futures and options designed to help the agriculture industry manage price risk from ranch to retail shelf.

• Ground beef prices hit record highs near $6.90/lb, up 13-16% year-over-year.
• US cattle herd is smallest since 1951 due to consecutive drought years.
• USDA projects beef prices will climb another 12.1% in 2026.
• Existing futures track live and feeder cattle, not processed ground beef.
• CME Group launches 90% and 50% lean beef trim futures and options.
• New contracts cover the product used for high-volume ground beef, aiding risk management.