In 2023, consumers in the United States can expect to see more pork, broiler meat and turkey available, but less beef, which will be more expensive than in previous years. The demand for all animal-based proteins will depend on consumer concerns about inflation and whether the US economy is in a recession.
Beef prices are currently more competitive compared to pork and chicken, but this is expected to change in the coming year.
The strong demand for beef, pork and chicken before the COVID-19 pandemic, combined with increased home cooking during the pandemic, led to high beef prices in October 2021. However, prices have since declined. High-quality beef remains in high demand, with sales remaining robust at retailers such as Costco and Walmart.
However, supply and demand factors in the cattle industry are expected to lead to tighter supplies and higher prices for beef in 2023, due to factors such as drought and high input costs for cattle producers.