Elevated meat prices in the US for the rest of the year

게시됨 2022년 4월 29일

Tridge 요약

The article highlights the significant shifts in the food industry caused by the pandemic, with a focus on the meat and poultry sector. It notes a surge in retail meat demand in 2020 due to cooking at home and stimulus money, followed by steady retail meat spending despite easing dining restrictions. Factors such as closed beef and pork plants, drought conditions, and the pandemic's impact on the sow herd have led to a decline in red meat production, contributing to higher and more volatile meat and poultry prices. Despite these increases, beef and chicken demand remained strong. The article also discusses the potential impact of rising animal feed, labor, and energy costs on meat prices in 2022, and anticipates that retail meat departments may focus on profit margins over sales volumes, potentially leading to more value items being featured in grilling season.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Over the past two years, ever-changing consumer behavior has buffeted the food sector. Initially, consumers responded to the pandemic by stocking up on grocery shelf staples and avoiding sit down dining. As COVID outbreaks ebbed and flowed, so has consumer restaurant spending. But, during the entire time retail meat demand has remained steadfast. These unprecedented changes in spending patterns have proved extraordinarily difficult for livestock producers, meat processors, and consumer-facing channels.The shift in spending was most notable during 2020. Consumers, flush with cash from federal stimulus and facing ongoing dining restrictions, had more spare time and money to spend on cooking at home, and retail meat and poultry spending jumped nearly 20% in 2020. However, when dining restrictions did ease in the first half of 2021, retail meat spending defied expectations and held steady. And just as consumers were gaining optimism in the second half of 2021, the omicron variant ...

출처: EuroMeat