CHICAGO – Americans are losing their taste for chicken and eating more beef and pork as President Donald Trump’s trade wars reduce U.S. pork exports to China and Mexico and leave cheaper bacon and ribs at home.
An expansion in the number of U.S. hogs and cattle is contributing to the change in diets by boosting supplies of pork and beef. Restaurants are seizing on the increases to promote hamburgers instead of chicken, while grocery stores have featured pork.
The shift is hurting chicken producers, such as Tyson Foods Inc (TSN.N) and Sanderson Farms Inc (SAFM.O), said Bill Roenigk, an agricultural economist and consultant for the National Chicken Council trade group. He said the chicken sector would generally lose money or break even in the fourth quarter of 2018.
To read the rest of the story, please go to: Reuters
