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SURVEY SHOWS CONSUMERS EXPECTING HIGHER MEAT PRICES
Source: Drovers Cattle Network news release

Consumers are anticipating slightly higher beef, chicken and pork prices in the coming weeks, according to the latest monthly Food Demand Survey from Oklahoma State University Department of Agriculture Economics.

Steak In the last month, consumers' willingness-to-pay for steak was virtually unchanged but for hamburger it went down more than 3.5 percent or 15 cents per pound. In the past month, which included the Super Bowl, consumers showed a willingness to pay for chicken products, especially chicken wings, which increased 11.06 percent to $2.51 per pound and was at its highest since the beginning of the survey.

The online survey of over 1,000 individuals showed consumers were willing to pay less for pork products. Pork chops were down 7 cents per pound but deli ham experienced the biggest drop at 13.2 percent to $1.97 per pound.

In February, consumers spent on average $94.37 per week at the grocery store, up 2.45 percent since January. With regard to food away from home, consumer expenditures increased 7.18 percent to $48.81 per week.

According to the survey, consumers say they are seeing more news about food in the news in February. The top concerns for consumers when purchasing food were Salmonella, E. coli and hormones. Oklahoma State added the term beta agonist to the survey this month to track awareness and concern.

Similar to previous months, consumers generally trust information from USDA and FDA the most while McDonalds and Chipotle ranked last among trustworthy information sources. However, when asked how much they know about various meat and livestock information sources, consumers stated they knew the most about McDonalds and the FDA followed by Tyson Foods and USDA.


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