Grocery prices, especially meat prices, are rising, causing challenges for ranchers as they receive less for their animals than the cost to feed them.
Rising food prices and concerns about the cost of living may be contributing to President Biden's mid-40s approval ratings, with a focus on the impact at the supermarket checkout.
The White House is taking action with a plan including $500 million in loan guarantees to smaller beef processors to address rising prices and challenges in the industry.
The situation with rising food prices, particularly beef, is seen as a broader test of the U.S. economy and competition theory, with implications for government policies to regulate dominant corporations.
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