Consumer demand for beef at risk, economist warns

amy55735
May 28
1 min read

With the unofficial kick-off to summer following Memorial Day, grilling season is in full swing.

But American Farm Bureau Federation Economist Bernt Nelson warns that growing economic uncertainty, backed by record-high beef prices, could begin to take a toll on beef purchases and ultimately prices consumers are willing to pay.

In a Market Intel report, Nelson said market demand for beef could be challenged by cheaper alternatives including pork, poultry, and seafood.

“Cattle supplies are currently at a 74-year low, and while tight supplies have been a major factor driving up cattle and beef prices, demand is the other part of the equation,” Nelson said.

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