The Trump administration is rolling out efforts to address record prices for beef — and its plans are moving markets and angering U.S. ranchers. For shoppers hoping for relief, it could be much ado about nothing.

The administration of U.S. President Donald Trump on Wednesday continued its campaign to cut the cost of beef, with Trump urging cattle ranchers to lower prices while several agencies announced an effort to rebuild the country's decimated cattle herd.

Soybeans futures hit new highs for the move on Thursday as Greg McBride with Allendale, Inc. says there is growing optimism about a trade deal with China that will include soybean purchases.

National Cattlemen’s Beef Association CEO Colin Woodall said Trump’s idea to buy Argentine beef “only creates chaos at a critical time of the year.”