Cattle prices have been riding a long high. It’s been amazing mainly because it’s during a time when the consuming public has been having their wallets stretched tighter. For some reason though, purchasers are still willing to pay higher prices on beef products. All proteins have seen price increases at the store, but beef is still gaining power with the public.
But how long can it last?
That’s the question posed to RaboResearch’s Senior Beef Analyst Lance Zimmerman. He looks ahead to what the marketplace can look like in stores as we start 2025.
There has been some income growth to match many of the price increases we have seen in the grocery store, and those that have been finding wage relief are still purchasing beef. Zimmerman says that producers need to realize how fortunate they are in this economic time.
One thing that is working for the consumer is that there is more processing being added. This will keep up with the high demand we are still seeing.
