Over the last several years, beef demand has been measured on a quarterly basis. Most quarters have shown beef demand has exceeded year ago levels. Kansas State University Agricultural Economist Glynn Tonsor said beef demand for the first quarter of 2015 was exceptionally strong compared to one year ago with demand up 15.5 percent relative to the first quarter of 2014.
"That is by far the largest year-over-year increase for any one quarter in this series that goes back to 1990," Tonsor said.
Beef demand has increased for the past four years with demand up 18 of the last 19 quarters. Tonsor said that is an incredibly long run for the beef industry.
Per capita consumption increased ever-so-slightly during the first three months of the year, while beef prices increased nearly 13.5 percent compared to 2014 levels.
"While the change in consumption was small, it is imperative to note both prices and consumption volume increase only if beef demand improves," Tonsor said.
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