Beef Buzz News
Meat Demand is up But KSU's Glynn Tonsor Says There Are a Couple of Areas of Concern to Watch
Thu, 20 May 2021 07:42:03 CDT
Demand for meat and beef in particular is good news said Dr. Glynn Tonsor, Kansas State University Extension livestock market economist.
Ron Hays Beef Buzzes With Dr. Glynn Tonsor
The KSU economist regularly surveys consumers for his monthly meat demand monitor.
March compared to March 2020, the last pre-covid comparison, domestic meat demand is strong than a year ago, he said.
Export demand is stronger for beef, pork and chicken than in March 2020, he said.
The strong demand picture gets even brighter when you throw in April comparisons and food service demands are up over a year ago.
Tonsor said that’s part of the reason why cut out prices are higher.
It will be worth watching in the next few months as more people are getting vaccinated and the summer grilling season is underway, he said.
One concern is the worry about inflation eating into consumer spending power and possibly ease meat demand.
Another issue to watch is the national trend for “meatless holidays.”
The KSU economist regularly quizzes consumers for his meat demand monitor survey and recently wanted to know how many have participated in meatless events.
Tonsor said in April, 57 percent said they have never heard of meatless Monday, 29 percent they’ve heard of it but did not participate, 8 percent said they participate infrequently and only 6 percent said they regularly participate.
That suggests to me there may be a lot of media chatter but not a lot of on ground activity that matches it, Tonsor said.
He compares those results to a similar survey by former OSU economist Jason Lusk in 2014 with similar results.
Click on the LISTEN BAR below to hear more comments from Dr. Glynn Tonsor.
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