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CoBank analyst Brian Earnest expects consumer-level meat inflation to continue into 2022, with the CPI for meats, poultry, fish and eggs up 12% year over year in October. He expects tighter cattle supplies, broiler breeder problems and sow herd reductions to support processor margins through at least the first half of 2022.
He also expects per capita US meat consumption to edge lower through 2023.
Tighter cattle and hog supplies should keep animal prices firm, while packers compete for fed cattle. Expected lower consumption could limit how far retail demand supports prices.
thebullvine.comDec 16, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
