A report from the CME Group on the USDA's December forecasts indicates that Americans will consume 12.2 percent less meat and poultry products in 2012 than they did in 2007. The group also added that the trend is not likely to change soon.
“The drop to 165.5 pounds in 2012 will be driven by lower beef and chicken supplies,” the report states. “The latter of those may level off in 2013 but beef output will almost certainly decline again with the total very likely falling below the 162.9 of 1973 and quite possibly reaching the 161 of ‘66.”