Consumers are willing to pay more for retail meat and most food service meat, according to the monthly Kansas State University Meat Demand Monitor. For December, consumers surveyed are willing to pay more than November for all five retail cuts of meats (ribeye steak, hamburger, pork chops, bacon and chicken breast). Meanwhile, consumers are willing to pay less for retail sources of protein such as plant-based patty, shrimp and beans and rice. Retail beef market share increased from 31% in November to 32% in December. Retail pork market share increased from 21% to 23%.
Consumers are willing to pay more for ribeye steaks, pork chops, baby back ribs and shrimp at the restaurants. They are willing to pay less for hamburger, chicken breasts and salmon. The restaurant market share for beef dropped by from 41% to 39%, due to a decline in hamburger market share. The restaurant pork market share increased from 15% to 16%.
