Despite some recent improvement, inflation and higher retail meat and poultry prices are weighing on consumer buying. A new report from CoBank relayed that meat prices are up roughly 30% from 2019 levels and up 6% year over year.
“Consumers may have seen moderate relief on beef prices at the store, but overall grocery prices are still rising, and smaller meat portions are a good way to keep the overall grocery bill in check,” said Brian Earnest, lead economist for animal protein at CoBank.
Additionally, expected supply constraints may prevent consumers from purchasing the same…
