MANHATTAN, Kan. (RFD News) — U.S. consumers showed stronger willingness to pay for meat at grocery stores in August while becoming more cautious about restaurant meals, signaling a widening split between at-home and food-service demand.
Kansas State University’s Meat Demand Monitor found willingness to pay increased for every retail product measured from July to August. Ground beef rose to $10.54 per pound, while ribeye steak increased to $19.54 and chicken breast to $10.03.
Food-service willingness to pay moved in the opposite direction across every dinner item. Hamburgers fell to $23.63 per meal, ribeye steak to $29.69, and chicken breast to $19.39.
Beef still held the largest combined projected market share, reaching 36% at retail and 46% in restaurants. Price also remained one of the most important factors consumers consider when buying protein.
Household finances may be influencing the divide. Only 18% said finances were better than a year earlier, while 37% said they were worse.
