Economic signals, and the pundits interpreting them, suggest that the economy could enter a recession next year, if not already, with impacts to meat demand likely. University of Missouri livestock economist Scott Brown says there are already signs that a slowdown is underway, notably with consumers seeking different cuts of meat to fit their tighter budgets.
Brown says with cattle populations declining, consumers may find beef prices higher, prompting a look at other proteins including pork. He adds that could encourage producers to shift their output.
University of Missouri livestock economist Scott Brown says international demand for American meat is expected to remain steady in 2023, even as a stronger dollar and higher prices make exporting overseas more difficult.