How macroeconomic trends impact chicken consumption
Inflation and generational influence are expected to be two of the largest macroeconomic trends to affect chicken demand in 2023.
According to Brian Earnest, CoBank lead economist, animal protein, the economy’s current inflation spike has three different drivers.
- Central banks are “creating more money” to support economic growth, however, the excess has led to higher prices.
- Demand for goods and services has outpaced the supply.
- The rising costs of commodities, such as oil, increases the price of other goods.