Beef cuts chart shows gains, dips in other meats, dairy
Beef cut counts are in for another bump in the final quarter of 2017.
A report on Tuesday showed the meat industry saw its second straight quarter of strong growth, with a gain of 7.9% in the meat and poultry categories.
Analysts polled by Reuters expected a gain in the same range for the fourth quarter.
That’s a significant jump from the 8.1% gain recorded in the fourth-quarter of 2016.
Beef producers also reported that sales rose by 7.7% in 2018, while pork and poultry sales climbed by 2.7%.
Both were strong enough to beat the 2% gain for the year.
The report also found that the cost of meat and the cost per pound of beef fell last quarter, and for the first time in nearly four years, the industry posted a year-over-year gain in total revenue.
The USDA also reported last month that meat prices rose by 3.5% in August, as demand from overseas countries picked up.
Beef sales rose 4.5%, while pork sales grew 2.4%.