MANHATTAN, Kan. (RFD-TV) — Consumer willingness to pay for beef strengthened in September even as household financial pressure remained widespread, according to Kansas State University’s Meat Demand Monitor led by agricultural economist Glynn Tonsor.
At retail, willingness to pay for ribeye steak rose from $19.54 to $20.71 per pound, while ground beef increased from $10.54 to $12.11. Beef’s projected retail market share held at 37%.
Food-service demand also remained firm. Willingness to pay for a beef hamburger increased from $23.63 to $23.89 per meal, while beef’s projected restaurant market share reached 44%.
The stronger meat demand came despite continued financial strain. Thirty-seven percent of respondents said household finances were worse than a year earlier, while only 18% said conditions had improved. Meal skipping also increased across breakfast, lunch and dinner.
The K-State Meat Demand Monitor surveys more than 2,000 consumers monthly. In September, 75% identified as regular consumers of animal-derived products, while 10% were flexitarian or semi-vegetarian and 8% identified as vegan or vegetarian.
