Add that to the list… ✅

💸 There’s a whole lot we could add to our list of uncertainties lately… Sadly, we can now add food prices too.  

• It’s no news that inflation is outpacing wage growth and will have an impact on protein consumption in Q4 2022 and the first half of 2023. We talked about this before, here.

👀 So here’s what is bound to happen in the near future:

• Consumers will continue seeking out lower-value cuts and limiting foodservice purchases. 

• Holiday sales will test the market’s resilience and its ability to absorb premiums. 

• Lower GDP growth expectations will slow herd-rebuilding efforts.

• Logistics will continue to be an issue.

• And most importantly, after disappointing harvests in the US, parts of Europe, and Asia, grain and oilseed inventories are near record lows and prices at historical highs.