Wednesday, 09 May 2012 08:09

Grinding beef demand will continue to grow

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50-56% of all the beef eaten in the US was in ground beef form last year. US veteran economist and agribusiness consultant Bill Helming forecasts that will lift to 65% by or before 2030 as the percentage of beef consumed in whole muscle form declines.

Americans are purchasing more lower-priced ground beef and less of the much more expensive middle meats. Processors are producing more ground beef to satisfy the growing needs of budget-conscious consumers and families and this trend is unlikely to change. With imports currently making up 15% of the ground beef market in the US, any long term increase in demand is good news for NZ beef exports to the US.

Market Brief by iFarm.co.nz

iFarm the leading source of agri-market prices, information and analysis for NZ farmers. Receive benchmark prices for the works, store and saleyard markets delivered direct to your inbox. Visit www.ifarm.co.nz or call 0508 873 283.

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