Certain Meats Will Be Easier To Find This Year, New Data Shows
While some grocery stores tout great finds every week and warehouse stores tempt shoppers with bulk buying savings, food costs continue to fill the news feed. Although the economic principle of supply and demand should cause reasonable fluctuations in pricing, the reality is that numerous factors impact the food cost at the checkout lane. For consumers, it appears that certain meats might be more plentiful in the store, which could impact that bottom line.
According to a Fox News report, concerns over weather conditions, interest rates, and other factors could contribute to availability and cost. While that prediction seems bleak, other food news is not that dire. Food Business News anticipates that rising beef costs will cause a higher demand for pork and poultry. As pork and poultry producers increase production, consumers should see more of this type of animal protein option on store shelves. Although price drops might not be dramatic, availability could drive demand. While there might be another chicken in the pot, it does not mean that the wallet could be fuller after checkout.
Are farmers raising expectations that some animal proteins will be more abundant?
While some consumers are shocked over the soaring egg prices, the outlook on other animal proteins might not be as bleak. According to Feedstuffs, pork and chicken production is projected to rise in 2023. Given that consumer demand for lower-cost animal proteins continues to rise, producers will respond to that indicator and increase production. Although feed costs and energy prices could impact the response, it is believed that chicken and pork will be more readily available than beef, per Feedstuffs.
Unlike the egg market, the Avian flu does not impact "broilers," which are chickens produced for meat consumption, as explained by a CNBC article. Since chicken supply continues to be available, consumers will look to this food as a viable cost-effective option. Supply and demand can work in tandem to the benefit of both parties.
A similar situation is occurring in the pork industry. As Pork Business reported, the demand for the chops, loins, and ribs supported the prices being charged. It allowed the farmers to maintain their businesses while consumers appreciated the buying options. In turn, it appears that more pork products will be readily available on store shelves.
Consumers can hope for smooth shopping up and down the aisles in 2023. Beef might not be what's for dinner, but chicken and pork could fill the weekly dinner menu.