Instead, the volume of beef being consumed by our main market the UK has spiked. Driven by the Coronavirus lockdown British consumers appear to have renewed their love affair with home cooking, and red meat in particular. With nowhere else to spend their money in this period the frequency of food shopping trips increased resulting in the number of buyers of red meat increasing by 8.7pc. The increase in steak sales was most noticeable in the last four weeks of that twenty-four week period with their sales volume rising almost 44pc. Driving this surge in beef sales was the decision by supermarkets to address the issue of beef carcase sales imbalance by offering steaks and other high-end cuts at far reduced prices.

Source: Irish Independent June 22, 2020 06:33 UTC