Meat consumption
Consumption global meat rise, driven by a growing population and rising incomes in developing countries, according to the World Livestock 2011 report
The news on global meat consumption lends an optimistic outlook for U.S. livestock producers. The news on U.S. domestic meat consumption, on the other hand, is cause for concern.
While global meat consumption is projected to rise 73 percent by 2050, USDA forecasts indicate a sharp drop in U.S. domestic meat consumption in 2012, following declines which have become steeper since 2008.
The projected world meat consumption trend seems inconsistent with the trend in the United States where, for the past few years, per capita meat consumption has fallen sharply. In fact, “the average American will consume 12.2 percent less meat and poultry in 2012 than they did in 2007,” according to the CME Daily Livestock Report.
The global meat consumption trend will be driven by a growing population and rising incomes in developing countries, according to the World Livestock 2011 report, published by the United Nations Food and Agriculture Organization. It’s little wonder that U.S. exports of both pork and beef will easily achieve all-time records in 2011.
Several factors contribute to slumping domestic meat demand. There is no question that record high U.S. retail prices for pork and beef in 2011 during a period of high unemployment rates are a drag on meat consumption. Retail prices for beef rose an average of 10… continue reading
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