It’s true: Beef demand is exceptional. Here’s the proof
It is worth noting that per capita consumption is not demand, rather it is a measure of product availability. Demand is the consumer’s willingness to purchase a good at a given price depending on their tastes and preferences, say the economist at the Daily Livestock Report.
The retail all fresh beef demand index value of 109.02 for 2019 was a 2.3% increase from last year and the highest level since 2015 (111.59). Per-capita retail beef consumption grew 1.3% in 2019 to 57.95 pounds per person, continuing the trend which started in 2014. The most recent high in per capita consumption of retail all fresh beef was 2010 at 59.58.
While beef consumption grew so did prices. Retail beef prices were $581.94 cents per pound in 2019, also increasing 2.3% from 2018 in nominal terms. In real terms (CPI deflated) retail all fresh beef prices increased 0.6% in 2019.
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