U.S. beef consumers have spoken – top-end cuts remain the preference. Branded (upper 2/3 Choice) and Prime products have been supported by unprecedented demand lately. It is important to note that Prime wholesale prices have skyrocketed during the last six months ($85/cwt). Current prices easily surpass the previous peak seen in March 2012 – and on a larger volume. As a whole, the beef industry is enjoying higher prices with bigger volume.
The key takeaway? Quality beef, grown consistently and sustainably, remain a top choice among U.S. consumers. Beef has even enjoyed a strengthening demand through the pandemic, where the stay-at-home and cook-at-home trends have proved consumers value U.S. beef products.
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