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Beef Quarterly Q4 2022: As the US Goes, So Goes the World
Beef markets are still performing well, but macroeconomic pressures are building up beneath the surface. Cattle prices are generally favorable, supported by seasonal conditions and consumer demand. But consumer confidence is waning, given the slowing economic backdrop, which may yet cause demand to soften. We see emerging supply-side dynamics that will also influence markets. The central question is whether beef markets are shaped more by demand-side or supply-side pressures as we head into 2023...
Beef Quarterly Q3 2022: Leaning Into the Trimmings Trade
The global beef market remains strong. Most beef retail prices (in domestic currencies) continued their upward trend in Q2 or remained steady. Although Q2 prices did not rise much above Q1, most are sitting between 5% and 11% higher than Q2 2021.
Meanwhile, evidence of declining consumer confidence in the face of slowing economies and rising inflation is building. In general, beef markets are resilient to changes in economic conditions. However, we see movement within supply channels and price points that tend to favor cheaper...
U.S. Chamber Agrees: Proposed Legislation Would Micromanage Beef Markets, Harm Consumers
In Case You Missed It: The U.S. Chamber of Commerce, the world’s largest business organization, agreed with the North American Meat Institute and concluded beef market legislation before the House and Senate would “dramatically expand the federal government’s role and ultimately harm consumers,” in a post shared to their blog.
The blog post was written by the U.S. Chamber’s Sean Heather, Senior Vice President, International Regulatory Affairs & Antitrust, and was published July 12, 2022.
The following is complete text:
In the 1930s, in response to the Great Depression...
NAMI: Prices for Cattle at Record Highs; Grassley-Fischer & Special Investigator Bills Costly
With the U.S. House and Senate considering legislation to intervene in beef and cattle markets, prices for cattle are at or near record highs calling into question the need for heavy-handed government interference.
“Just last week one cattle marketing analyst described the high prices as ‘stratospheric,’” said Julie Anna Potts, President and CEO of the North American Meat Institute. “As many industry economists have said, the beef and cattle markets are continuing to behave predictably given supply and demand and do not need government mandates and...
Warren/Rounds Resolution Myth-Facts
The North American Meat Institute (Meat Institute) today released the following Myth-Fact resource debunking the mischaracterizations about beef and cattle markets in a resolution introduced by U.S. Senators Elizabeth Warren (D-Mass.) and Mike Rounds (R-SD):
Myth: In the press release announcing the resolution, Senator Warren says beef companies have lowered wages for workers. This assertion is completely false.
Fact: The meat and poultry industry values its workforce and, according to Rabobank and other well documented sources, average starting hourly wages for workers have increased from $14.60 to $22.00 an hour...
Beef Quarterly Q1 2022: Strong Demand but Cost Headwinds Prevail
Global beef markets remain tight. Ongoing strong demand and more limited supplies have kept global beef prices high. But cost pressures are flowing into the supply chain.
Over the past two years, retail beef price movements have been phenomenal, driven largely by strong consumer demand and some supply shocks. In many cases, this increase in prices was caused by demand pull. With supply unable to keep up, the increase in demand has created an imbalance in the market and as a result beef prices have lifted...
Protein Markets Contend with More Than Just "Seasonal" Issues Heading Into Q4
ANALYSIS: Shell Egg Prices Crack New Record Highs Amid Strong Demand, Depleted Inventories
This Week in Retail: Seasonal Trends Start to Shift
Urner Barry Releases September Soy & Wheat Report
Urner Barry Releases September Pulse Protein Report