Independent Processor Editor-in-Chief Sam Gazdziak recently interviewed Todd Southerland, Food and Agribusiness Industry Manager for SunTrust Bank, based in Atlanta, Ga. Southerland discussed the state of the economy for meat processors in 2019, opportunities that lie ahead, and how to budget for food safety.
How do you see the economy performing in 2019, and do you think that performance will affect consumer eating/food purchasing habits?
My outlook for the economy in 2019 is fairly positive, despite some of the headwinds we continue to face with some trade partners and what has proven to be a difficult period for certain commodity prices. While some of our key financial indicators can be volatile from month-to-month, the overall trend in domestic jobs growth is positive and we are finally experiencing some uptick in interest rates, which reflects strength. Specific to the sector, the importance of the American food industry in the context of the global economy cannot be overstated because of the breadth and volume of our production capabilities along with our focus on food safety and product quality.