The seasonal grilling period is poised to increase demand for meat, according to statistics compiled by Oklahoma State University. The Food Demand Survey found consumers’ willingness-to-pay for steak increased nine percent this month. Meanwhile, consumers say their willingness-to-pay for chicken breast increased 1.2 percent, and 2.45 percent for pork chops, compared to levels indicated in April. Consumers noted a decrease of interest for deli ham and pasta, according to the survey. The amount spent on food eaten at home in general increased four percent in May from April and expenditures on food bought away from home decreased 4.8 percent. Meat industry publication Meatingplace says consumers expect beef, chicken and pork prices to drop in the next couple of weeks, compared to one month ago.
From the National Association of Farm Broadcasting news service.