This week, I want to focus on factors impacting consumer demand for beef. It’s important to continue last week’s discussion because beef demand will be one of the most important things to monitor in 2023. Supply fundamentals will support cattle prices next year, but there is still uncertainty about what consumer demand will look like, largely reflecting macroeconomic concerns.
The prices of complements and substitutes will affect beef demand. The two main competing proteins for beef are pork and chicken. The first graph above…
