414: The $4.4 Billion Meat Trend Beef Producers Need to Watch with Abbi Groves

Beef prices are high, supplies are tight, and the U.S. herd has not fully entered a rebuilding phase, yet beef demand remains remarkably strong. In this episode, livestock economist Abbi Groves joins Lauren to break down what is happening across the beef industry, starting with the booming meat snack category and the consumer trends behind it. They also dive into heifer retention, the outlook for herd rebuilding, beef-on-dairy, cattle supplies and what continues to drive consumers to buy high-quality beef even at record prices.

Links:

Connect with Abbi on LinkedIn: https://www.linkedin.com/in/abbigail-groves/

Meat Snack Growth: https://www.cobank.com/knowledge-exchange/proteins-promise-for-meat-snack-growth

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Key Takeaways:

• Meat snack sales have grown nearly 50% in four years and surpassed $4.4 billion
• Protein, health, convenience and simple ingredients are driving meat snack demand
• More than $8 billion has been invested in animal protein processing
• The beef herd is between continued liquidation and true rebuilding
• Heifer retention could tighten beef supplies before the herd grows
• Meaningful herd growth may not show up until 2028
• Beef-on-dairy is adding high-quality cattle to the beef system
• Strong beef demand continues despite record prices
• Consumers are changing cuts but still finding ways to buy beef
• Genetics, feeding and management have helped build today's high-quality beef

Chapters:

00:00 – Meet Abbi Groves
01:56 – The $4.4 Billion Meat Snack Market
05:13 – Meat Snacks and Processing Investment
07:47 – What Consumers Really Want
09:48 – Why Meat Snacks Are Here to Stay
12:05 – Where Are We With Herd Rebuilding?
16:19 – Understanding Beef-on-Dairy
19:36 – Beef-on-Dairy and Producer Profitability
22:06 – Why Beef Demand Remains Strong
24:18 – What Consumers Are Buying

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