Exclusive outtakes from industry leaders
The American beef industry is facing a double whammy of rising input costs as well as a decline in consumer demand as the economic downturn worsens.
Ruben Ramirez reports from Goodhue, Minnesota. SOUNDBITES: Lowell Schafer, Cattle Farmer Brian Buhr, Head, Department of Applied Economics, University of Minnesota MORE INFO: Roller coaster feed costs coupled with a decline in global demand for prime cuts of beef are having an unprecedented impact on the American farmer. The million dollar question is, when will consumers once again start saying “Where’s the beef?”
Hormel, like the rest of the packaged foods industry, is seeing a boon as cash-strapped consumers try to save money by eating at home.
As the economic downturn hits consumer pocketbooks around the globe, the packaged foods industry is seeing a surge in demand as consumers try to save money by skipping restaurants and eating at home. Ruben Ramirez reports from Austin, Minnesota.