Prices of Red Meat Expected to Decrease

The summer season is just about here and backyard grills are ready to be fired up. Consumers have a lot to look forward to as the price of meat may decrease for the second half of this year.

According to a recent study, the popularity of meat sales is expected to keep rising as the profit margin for major companies has just come short of $100 billion in the last four years. This may even result in fast food restaurants losing sales on burgers as more and more consumers will be buying their products directly from the store.

"We’re in a much better place now than we were 10 years ago when we had the recession," stated Altin Kalo, an economist consulting in Manchester, N.H. The industry is making its way back to a better place than it was. Thanks to the lowers costs of oil used to transport livestock to the slaughter, and corn, for feed before they are brought to the slaughter, the industry is more flexible with the prices they put on the market. Less money on oil, means more workers and tools to hack up the animals.

According to John Ruane, senior vice president of Fresh Merchandising, meat consumption is expected to increase by 2.6 percent. That is only 40/100 less than a 3 percent increase. No doubt, meat lovers will have a lot to be thankful for now that plant based burgers will no longer have to be their go to.

Jul 4, 2017