USA: Overall inflationary pressures persist for beef

The article provides an overview of the current trends and concerns affecting beef consumers, as reported by the National Cattlemen’s Beef Association (NCBA) based on their Consumer Beef Tracker data. It highlights consumers' financial challenges due to high prices and economic uncertainty, with the University of Michigan’s Consumer Sentiment Index showing a modest improvement but still at a low level. This situation has led to consumers cutting back on expenses, including eating out, in an effort to save money. Despite these economic pressures, beef and chicken remain popular choices for consumers, who plan to buy more chicken and ground beef but less beef steak, pork sausage, and deli meats. There has also been a shift towards private label products and more strategic meal planning. The article also notes a steady increase in online food purchases, especially for non-perishable items and dairy products, although brick-and-mortar stores remain the primary venue for food shopping. The NCBA's insights are based on data from January to June 2024 and provide a snapshot of the changing consumer landscape in the beef industry.