“There’s 10% to 20% of the US public that is doing better than a year ago, particularly those who have home ownership or stock market equity exposure. So the wealth effect is bigger for that group, and they aren’t batting an eye at a ribeye price,”

Glynn Tonsor · said date not stated · reported 2026-08-21

Glynn Tonsor described how higher-income earners continue to sustain strong demand for beef despite high prices.