Chicken breast, ground beef, pork prices set to surge higher in the United States

Published 2022년 3월 31일

Tridge summary

Meat and poultry prices in the U.S. are predicted to surge this year, with chicken breast potentially seeing a 70% increase in the first half of 2022, according to Evercore ISI. Pork and ground beef could also rise by 20% during the same period. However, prices for pricier cuts like steak are anticipated to stabilize or even decrease as consumers shift to more affordable options due to rising inflation and feed costs. The war in Ukraine and the surge in wheat prices are significant factors contributing to the increase in protein prices, especially in pork and chicken.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Meat and poultry prices are largely expected to continue their climb in the U.S. this year, but pricier cuts like steak should level out according to a new analysis.Evercore ISI issued a protein inflation note this week projecting that most protein prices are forecasted to increase "substantially" due to the higher feed costs, with chicken breast reaching as high as 70% year-over-year in the first half of 2022.CUSTOMERS FEEL HEAT OF INFLATION AT BBQ JOINTSThe analysis said pork and ground beef could climb as high as 20% year-over-year during the same period.However, inflation for pricier cuts like steak is expected to level off or even drop, as consumers shift their buying patterns to more affordable products due to their budgets getting squeezed. FUEL PRICES HITTING AMERICA'S FARMERS HARD AS SOME FEAR FOR THEIR FUTUREEvercore's analysis showed that cost of ribeye and chicken wings could each drop by around 15% in the first half of this year."Chicken and hamburger prices are ...

Source: Foxbusiness