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Consumer demand for beef is down, but prices continue to rise. Economic growth is sluggish, and shoppers are turning to lower-priced beef products like ground beef to round out meals. Iowa Cattlemen’s Association CEO Matt Deppe, above, says it’s not clear if those trends will continue into grilling season.
Food prices are set to inflate an usually high 3%-4% in 2013 thanks to the drought; Deppe says the long term question is how to fill up feedlots and replenish the cow herd. The answer, he says, is getting moisture in the ground, which ultimately helps row crop farmers and livestock producers alike.
