Steak Prices Will Keep Rising, Major U.S. Meatpacker Says

Beef will be getting even more expensive at U.S. grocery stores in the months ahead, according to one of the country’s biggest meatpackers.

National Beef Co., controlled by the Brazilian giant Marfrig Global Foods, sees relatively stable margins in the next two quarters, according to Tim Klein, who heads Marfrig’s U.S. operations. That means even though their costs to buy cattle are increasing, the company will ultimately be able to pass that on to consumers in the form of pricier steaks and burgers.

“Cattle prices will go up, and beef prices will go up with them,” Klein said during an earnings interview.

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