Stronger-than-normal seasonal demand for beef is driving fed cattle prices upward, according to a Texas A&M Agri. Life Extension Service expert. Beef and beef cattle prices are experiencing an upward trend as the U. Economy emerges from a year-long pandemic.
Why is beef so expensive Right Now?
What is causing meat prices to rise?
Even though the plants are open again, Lusk writes that producers and distributors are dealing with the extra costs of pandemic-related measures like social distancing and protective equipment.
Victoria’s beef and dairy producers were the most likely to be optimistic about 2022, with 32 per cent and 35 per cent respectively expecting conditions to improve over the year ahead. Victorian Farmers Federation livestock president Steve Harrison attributed sensational seasonal conditions to driving the confidence boost.
“Australian beef has been taking a bite out of the lucrative barbecue chicken market since the launch of ‘grab-and-go’ traditional hot roast beef and corned beef products in Woolworths supermarkets in 2016,” Mr Lee said. “This project was the result of a collaboration between MDC, Teys Australia and the Australian Meat Processor Corporation (AMPC).
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Can red meat increase market share by just 1%?
“If red meat was to increase market share by just 1%, the benefit to the red meat industry in the domestic deli market alone would be approximately $10 million.” MLA’s Co. Marketing Program supports Australian red meat brand owners in the marketing of their brands both on the domestic and export markets.
You should be asking “Is there more scope for red meat in the convenience segment?”
MLA Manager High Value Food Frontiers, Michael Lee, said there is scope for red meat to capture greater market share in the growing convenience segment, particularly supermarket delicatessens, which are dominated by pork and chicken value-added products.