AFBF Analysis Finds Higher Meat Prices, Rising Demand
Bernt Nelson
Economist
Chad Smith
Associate News Service Editor, NAFB
As the summer grilling season kicks off, consumers may find higher prices at the meat counter. However, as Chad Smith shares, those prices might not reduce demand.
Smith: With Memorial Day Weekend the unofficial start to the U.S. grilling season, it’s time to look at domestic meat demand. Bernt Nelson, an economist with the American Farm Bureau Federation, said consumers are eating more meat than ever before as pitmasters fire up their grills.
Nelson: Home-grown meat continues to be a staple for all of our American families, and according to the Meat Institute, meat sales hit a record high $112 billion last year, with more than 98 percent of American households buying meat for daily meals.
Smith: Nelson said beef continues to be the centerpiece for many cookouts, but pork and poultry are catching up.
Nelson: These record-high prices from historically tight cattle supplies are continuing to bring challenges for both consumers and farmers and ranchers. Pork is offering some relative value and price stability that's being supported by better production, more efficient production from our hog farmers. Chicken stands out as the most accessible protein option.
Smith: He said shoppers heading to the grocery store can still stretch their food dollars when buying meat for their grills.
Nelson: Retailers and grocery stores generally increase sales and specials as holidays get closer, and this can be a really good way to save money. And for all those pitmasters that are looking to stock up on their favorite cuts, this also offers a great opportunity to get ahead of cookouts later in the summer.
Smith: Learn more on the Market Intel page at fb.org. Chad Smith, Washington.
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