Agricultural News
Will Consumers Push Back on Record High Beef Prices Coming in 2011-2012?
Tue, 08 Feb 2011 7:04:46 CST
With record cattle prices predicted for both 2011 and again in 2012, the question becomes, how much will the US Consumer pay before pushing back on higher beef prices? We discuss that issue today with Duane Lenz, Director of Analyst Services for the Cattlefax organization.
Lenz says that the question of how the consumer will respond to the record high cattle prices- and the higher beef prices that will follow. Lenz says that we will likely see less featuring of beef at the retail level- and that beef is at a significant premium over boneless chicken breasts- which means that the housewife may have a hard time picking up that package of steaks versus the package of chicken breasts as the price advantage will lie with the poultry.
We discuss the retail side of record high cattle prices on today's Beef Buzz with Duane Lenz.
Lenz says that we saw a nice bump up in the Wholesale Beef Demand index in 2010 versus 2009- and that beef demand is holding its own as we begin this year and he adds "so far so good but there is concerns out there" from the beef industry about the unknown territory that we find ourselves in with both cattle prices and retail beef prices.
The Beef Buzz is a regular feature heard on radio stations around the state on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the listen bar below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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