Both Derrell Peel of Oklahoma State University and Glynn Tonsor of Kansas State University have recently proposed that the old rules about consumers substituting other meats for beef may not apply today.
The two economists say the current situation is unprecedented and may signal new times with new, as-yet-unknown rules about consumers replacing high-priced beef with pork and chicken.
Tonsor says the synopsis we all carry in our subconscious about consumers trading beef for chicken or pork on a basis of rough equality with price the major determining factor came from two meat demand studies in the timeframe 1970 to 1993.
Two more recent studies, both in which Tonsor was involved, used data from 1982 to 2008 and found beef and chicken and pork do not substitute so readily in consumers' minds and grocery baskets.
To read more about retail meat trends, click here.
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