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

  • Consumers may adapt to inflation and buy less expensive cuts
  • Marfrig beat analyst estimates as Brazil’s operations recover
Updated on

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.