2023 Meat Shortage: The Largest Beef Supply Drop In 40 Years

The meat industry forecast for 2023 predicts a significant decrease in the supply of beef, leading to higher prices for everyone. Reports estimate that on average, Americans will eat 5.6% less beef this year due to shortages. If you don’t want to eat less meat, then securing your supply now is crucial. When the supply dropped 4% in 2003, fed-steer prices advanced nearly 25%, similar to the situations in 2011 (a 3.9% decline in supplies led to a 20% price increase) and 2014 (a 3.8% decline contributed to a 23% price jump). We could be looking at a similar 20% price spike for beef in 2023, which is why you should take advantage of our Price-Lock Guarantee today.

 

There are several reasons behind the current meat shortage crisis. The closure of meat processing plants due to outbreaks or even potential outbreaks of COVID-19 among workers caused a major slowdown in production, leading to supply chain disruptions. The pandemic has also led to a decrease in the total herd size since farmers were selling cows earlier than they usually would. They did this to take advantage of pandemic prices and probably to stay open in trying times.

 

Another factor contributing to the shortage is the increasing demand for meat in developing countries, particularly in Asia. As these countries become wealthier, their citizens are consuming more meat, leading to a higher demand for it globally. This increased demand has led to record beef exports from the U.S. to Asia, which causes us to further depend on imported meat to fill the gap in our own stores and meals.

 

The situation is further complicated by environmental policy changes. We’ve written blogs about how the Netherlands and New Zealand are actively discouraging ranching and raising livestock in general. Many countries are implementing policies aimed at reducing the climate “impact” of meat production and therefore reducing the supply of meat and hurting the global economy and food supply in the process. There will be a shortage in the general supply of meat, but the availability of quality meat will greatly shrink too. High-quality cuts are said to become more scarce in 2023. Prime & Choice beef options may not always be available, and if they are you’ll pay an even bigger premium on them then the other grades of beef.

 

Consumers will have to make difficult decisions about the types of meat they consume and how much they are willing to pay for it this year. For those on a tight budget, this could mean eating less meat or opting for cheaper, less desirable cuts if they rely on their local grocer entirely.

 

The meat shortage is also likely to have a significant impact on the meat industry. Meat producers will have to adjust their operations to meet the new demands of consumers, which may mean reducing their margins or shifting their focus to other types of meat. This could also lead to the closure of some small, local meat producers, as they are unable to compete with larger, more established players in the industry. This will be a continuation of over 100,000 small farms closing down in America due to the odds being stacked against them and low-quality, imported goods flooding the market.

 

We hope this meat shortage crisis is a wake-up call for consumers and the meat industry alike. It highlights the importance of ensuring a sustainable and reliable supply chain for one of our most important food sources: meat. We cannot continue to ignore our own farms and ranches as they close down and hope to have the same great food we always have. It is time for the industry to change, so that consumers can once again trust the food they eat and afford the best America has to offer.

 

Read our recent blog to see how Beyond Meat uses Dippin Dots in their fake “meat” to give it flavor - See Story

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