The good news regarding meat demand from the latest Food Demand Survey by Oklahoma State University is that consumers expect higher prices for all meat products and plan to eat out more compared to last month. However, they plan to buy more chicken and buy less red meat compared to last month, as their willingness-to-pay (WTP) for all meat food groups declined in June compared to May.
The survey of at least 1,000 individuals across the country reveals the greatest percentage decrease for meat products was for deli ham, declining 13.62% from May, followed by steak with a 13.2% decline. “This is the third month in a row that WTP has fallen for steak, chicken breast and chicken wing, and the fourth month in a row that WTP has fallen for pork chops and deli ham. Compared to one year ago, WTP is lower for all food products,” states the report.
Similar to previous months, consumers reported their main challenge was finding affordable foods that fit within their budget. “Finding foods my children will eat was the challenge experiencing the largest percentage decrease,” states the report. “In June, 7.53% of participants reported having food poisoning, a 24.3% increase from one month ago.”
