In 2023, consumers in the United States can expect an increased availability of pork, broiler meat, and turkey, but less beef, which will cost more than last year. The demand for animal-based proteins will depend on consumers’ worries about inflation and the state of the US economy.
Currently, beef is in high demand at both retail and foodservice, but prices have started to decline.
Despite the decline, retail demand for high-quality beef has remained strong, as demonstrated by the sales of USDA Prime beef at retailers like Costco and Walmart.
Due to factors like drought and high input costs, the number of cattle may decline to 89.5 million head, down 2.4 million from the previous year, which would be the lowest since 2015. The ongoing drought in leading cattle states poses a risk to the cattle industry in 2023. The high levels of female slaughter indicate that many cattle producers have reduced their herds last year, and this trend is likely to continue.
In contrast, pork and poultry production will increase, providing consumers with ample protein options in 2023.
The total red meat and poultry consumption is expected to be 227.4 lbs per capita, a slight increase from the previous year.