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Rising Retail Prices Will Increasingly Test Consumers’ Appetite for Meat
Full effects of producer price inflation will become apparent in grocery meat cases
U.S. consumer demand for retail meat remains exceptionally strong despite higher prices stemming from increased production costs and supply chain limitations. However, once the full effects of producer price inflation finally hit retail meat cases, consumer demand for meat will be tested again, according to a new report from CoBank’s Knowledge Exchange.
“Retail meat prices will remain elevated throughout 2022,” said Brian Earnest, lead animal protein economist with CoBank. “The sharply higher costs for feed..."
Strong Momentum Continues for U.S. Beef Exports; Pork Exports Trend Lower
Coming off a record-breaking performance in 2021, U.S. beef exports remained red-hot in January, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Pork exports continued to trend lower in January, despite another outstanding month for exports to leading market Mexico.
Beef exports totaled 119,066 metric tons (mt), up 13% from a year ago, while value soared 57% to $1.03 billion. This was the third-highest value total on record – trailing only August and November of last year – and export...
Analysis Finds Meat Shoppers Seek Cooking Inspiration from Digital Sources
The 17th annual Power of Meat report released today reveals nearly all American households (98.5%) purchase meat, a trend supported by an increase in volume sales (up 3.9% for all meat compared to pre-pandemic levels). This increase is due, in part, to several grocery shopper trends resulting from the COVID-19 pandemic, including increased home cooking, record-high online shopping, and a shift to digital sources for recipe inspiration.
“The Power of Meat shows Americans continue to count on meat’s taste, quality, convenience, and value throughout..."
North American Meat Institute to House Judiciary: Meat & Poultry Industry not to Blame for Inflation
The North American Meat Institute (Meat Institute) today said consumers saw increased meat prices in 2021 because of labor shortages, greater consumer demand, supply chain problems and other factors experienced by most sectors of the economy.
“Inflation is hurting consumers by erasing the wage gains workers received due to the tight labor market and the pandemic,” said Julie Anna Potts, President and CEO of the North American Meat Institute. “It is no wonder the Biden Administration and some members of Congress would rather hold press..."
JD Fresh Partners with World’s Largest Meat Supplier JBS
JBS, the world’s largest meat supplier, partnered with JD Fresh, JD.com’s fresh food business, marking the Brazil-based meat supplier’s first foray into retail business in China. Under the partnership, JBS will launch a flagship store on JD.com.
With 220 factories across the world, JBS offers a wide selection of beef products from many countries, such as Brazil, the United States, Australia, and more.
Through the partnership, JD Fresh will help JBS connect with over 550 million customers on JD.com, providing Chinese consumers with diverse and high-quality choices of meat...
USMEF Conference Focuses on Booming Demand, Supply-Side Challenges
The U.S. Meat Export Federation (USMEF) Strategic Planning Conference and Board of Directors Meeting got underway Nov. 10 in Carlsbad, Calif. USMEF Chair Pat Binger, who heads international sales for Cargill Protein North America, welcomed members from across the nation – including farmers, ranchers, processors, exporters and traders – to the organization’s first in-person meeting since 2019.
Binger previewed the conference agenda by noting that attendees will learn exciting details about booming demand for U.S. red meat in both established and emerging markets, but cautioned that the U.S. industry faces significant production...
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