Beef Demand Strong at the Grocery Store
“One of those constants that we'd seen before COVID Was this relationship of how much beef do you sell at an H&R- hotel restaurant business and how much you sell retail through your Hy-Vee Fairway, whatever, okay, Costco and Walmart. And that percentage, some people estimate may have changed 10 to 12% during COVID. In other words, we regained a whole bunch of retail businesses where people watch the YouTube video, I suppose, learned how to cook a steak outside on the grill, and found out that it was actually pretty good. In fact, maybe it was better than what they could buy at a restaurant and they could probably do it twice a week for what it costs him to do it, you know, to go out. “
Additionally, he says household economics may be a reason for the strong beef demand.
‘Where you got a group of people I think, who are at an economic level that they say, Yeah, I'm gonna have a ribeye. I don't care what it cost. No, maybe I'm being a little exaggerated for effect, but I do think there's a bit of that two.”
Plus Kooima says that says foreign demand is good.