The balance of the meat market has been upset, so meat prices will continue to develop

Published Jun 25, 2020

Tridge summary

With the outbreak of COVID-19, the meat and livestock market, like many other sectors, became affected. China currently appears to have defeated the epidemic and the virus is no longer spreading there, but this cannot be said of the rest of the world and the epidemic situation continues to affect the meat market.

Original content

The spread of the virus also affected the financial situation of consumers, so consumers ’concerns about their financial security were fully understood. As a result, however, in addition to concerns about financial security, the growing pressure on household budgets has also become an important factor in changes in consumer behavior, writes Agroxxi.ru. According to statistics, more than 2 out of 5 people in the world spent more time cooking at home during the epidemic than before. Even in times of crisis, consumers prefer reliable brands. And Australian beef and lamb has gained consumer confidence over the past decades. In most countries, there has been a significant drop in turnover from catering establishments, which has upset the balance of the meat market. The sirloin sold, once purchased by the catering industry, balances the processing costs for producers. For the industry, however, the bigger problem than the fall in the selling price of the more expensive parts was that ...

Source: Magro