The report revealed there had been a shift in value from prime cuts to processing cuts and fifth-quarter products since 2009, driven by increasing demand in Asian markets, consumer preference for convenient processed products, trading down as the result of the economic crisis, demand for animal by-products by the pharmaceutical and cosmetic industries and a decline in the US and EU sow herd.It concluded that the shift was “permanent” and would “impact the business models of almost all players in the global meat industry”.
