CBB Keeping Close Eye on Important Foodservice Market
According to the Cattlemen's Beef Board - the domestic foodservice market for beef is huge. Close to eight-billion pounds of beef are sold in commercial and non-commercial establishments. In 2012 - beef wholesale operator purchases reached nearly 33-billion dollars. National Cattlemen's Beef Association Director of Market Intelligence Trevor Amen says volume and demand for ground beef at foodservice has remained steadily strong. He adds that there's been great growth in beef volume from steaks, roasts and whole muscle cuts.
The recession hit foodservice hard. Compared to 2007 - the foodservice industry is down 9.6-percent in total sales. Beef volume is down 7.8-percent over the same timeframe. Beef purchases declined approximately three-billion dollars from 2007 to 2009. But beef wholesale sales have grown by approximately 8.5-billion dollars since 2010. Even since the peak beef dollar sales year of 2007 - the Beef Board says sales are up approximately 5.5-billion dollars. According to the Beef Board - if the foodservice industry continues to recover - there is still upward pound potential for beef. The Beef Board also cites strong indicators that foodservice operators have the opportunity to capitalize on the distinctive power and allure of beef.
The Cattlemen's Beef Board notes the beef industry must continue to provide great quality beef to this important channel.
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