Record Soymeal Production Set to Lower Meat Prices for Consumers
- Renewable fuel production is yielding more soymeal, lowering animal feed costs by up to 60%
- Lower feed costs for farmers will translate to lower meat prices for consumers
- U.S. is on track to produce 30% more affordable soymeal by 2026
- Chicken breast prices rose 60% from 2020 to 2022 due to inflation
- Lower meat prices expected to come via promotions first before seeing lower retail prices