Americans to eat record amount of meat in 2018
It’s shaping up to be a meaty 2018, if projections at the USDA are accurate. Bloomberg reports that Americans are projected to eat 222.2 pounds of red meat and poultry this year, surpassing a record set in 2004. Domestic production is expected to surpass 100 billion pounds for the first time, thanks to cheaper grain prices and expanding herds.
Per capita meat and poultry demand had dropped 9 percent from 2007 through 2014. Rising corn prices and a drought adversely affected commodity prices during that time. The prices for cattle and hogs have dropped from that time, though prices are starting to rebound as the economy improves.
Source: Bloomberg
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