Trump signs $800 million beef import deal as Nebraska cattle herds shrink to 64-year low

LINCOLN, Neb. (KOLN) – According to the USDA’s latest cattle inventory report, beef cow inventory is at its lowest in Nebraska since 1960, with cattle herd size decreasing by 20% since 2019 due in large part to drought.

It’s a trend that has been seen across the country, with that same report showing a 13% decline in cattle inventory across the United States over the past seven years.

That reality was the inspiration behind a deal signed by President Trump last week to import an additional $800 million in beef from Argentina to the United States in 2026.

“We do import beef from a number of different countries, so the fact we’re going to import more is not new,” Mark McHargue, the president of the Nebraska Farm Bureau, said. “We just need to ensure there’s not anything relative to the trade conversation that would lessen our producers’ ability to make money.”

The per-pound price of beef has increased by nearly $3 since 2019, according the Federal Reserve.

The per pound price of beef has increased by nearly three dollars since 2019, according the Federal Reserve.

But McHargue says this plan will lower prices “artificially” and could work against the interests of some.

“We start bringing more product in from outside our borders and that’s going to be competitive to those that have been here in Nebraska growing beef, growing cattle for a long time,” he said. “They’ve been struggling to finally make a profit and then we bring in too much from some place else, lower their competitive advantage — that takes money out of their pockets.”

Sharing those concerns is Nebraska Sen. Deb Fischer, who released a statement in response to the decision.

The Nebraska Cattlemen released a statement of their own in response.

10/11 also spoke with one cattle farmer in Malcolm, who did not want to be named but said he supports President Trump’s move to quadruple beef imports. He said cattle supply is currently so low that producing enough ground beef for consumers isn’t doable. In his opinion, imported meat will keep products available and reasonably priced until farmers like him are able to build their inventory back up.

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