“With great prices for cattle, the market is telling us to expand. The high demand we’ve been discussing is a signal for expansion.”
With summer grilling season in full swing, the consumer is making it clear they love beef. For quite some time we’ve been wondering what price point drives significant abandonment of beef for cheaper proteins. Each time we think we think we might be getting close, the consumer shows us they want more of our product, even at a higher price. For the spring months, CattleFax reported that U.S. retail beef demand was well above the demand we saw during the same time frame in 2023, and only slightly below 2022, which delivered some of the highest demand levels we had experienced in thirty years.
The overall quality of the beef we are producing is helping to drive the consumer’s willingness to pay today’s beef prices. Consumers are able to consistently find prime and choice-graded beef in the retail meat case, and that results in a more satisfying beef-eating experience. The quality of the beef we enjoy today is very different from beef in the 80’s and 90’s.
To read the rest of the story, please go to: National Cattlemen’s Beef Association
