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Domestic demand for beef showing strength

Domestic demand for beef has been showing some strength and a livestock economist says that could be a good sign for the economy.

University of Missouri’s Scott Brown says the industry is in better shape today compared to a month ago. “There are a number of places around the country where we’re seeing those case numbers back down,” he says.  “So perhaps we are starting to see more pull out of that restaurant demand side of that equation.”

Brown says with 49,000 jobs added last month, the economic recovery continues, just at a slightly slower pace than expected.  “That’s certainly not going to get us out of our situation anytime soon,” he says.  “If you look at total unemployed – it’s still 10-million folks who are unemployed and that’s well above where we were pre-COVID-19.”

He tells Brownfield if economic recovery doesn’t pick up, it could create some domestic demand concerns for the beef, pork, and poultry sectors.