Meat lovers: USDA has good news for you. U.S. red meat and poultry producers had a banner year in 2015, according to USDA. During the year, the two industries combined for a record high of 94.3 billion-lbs. in production. Individually, U.S. poultry slaughter production hit a record high of 46.3 billion-lbs.
USDA noted that the nation's poultry production industry underwent significant growth in the last two and a half decades, with the total live weight of poultry slaughtered under federal inspection increasing 89% during the time frame. USDA noted that chicken and turkey both contributed heavily to expanding poultry production, but chicken was the primary driver in the rise. USDA breaks down the individual poultry types very well in the report:
Total commercial red meat production was set at 48.4 billion pounds in 2015, up 2% from 2014. Since 1990, commercial red meat production within the nation increased 25%, with most of that increase due to a rise in pork production. Once again, USDA broke down the numbers pretty well for red meat.
The most interesting fact from the report regards the narrowing gap between red meat and poultry production. Since 1990, USDA reports that U.S. poultry slaughter production nearly doubled. In that year, red meat production was nearly 60% higher than poultry production. That number steadily declined in the 25 years since, with USDA reporting only a 4% gap in 2015.
In The Food Institute's recent webinar "Achieving a self-sustaining business model: Top 3 trends companies need to think about post-COVID-19," Greg Wank, CPA, CGMA, partner and leader of Anchin's food and beverage group, as well as David Eben founder and CEO of Carrington Farms, discussed how to have a more successful business while burning less capital and attaining self-sustainability. The following summarizes the salient points...read more
Chris is a business writer and market analyst that focuses on the Markets, Legal and Washington sections of the Food Institute Report. In addition, he assists in compiling data for various Food Institute publications throughout the year. He invites you to contact him via email at email@example.com to talk about anything food-related.
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