"Renewable Fuel Boom Expected to Lower Chicken Prices, Boosting Protein Industry"
Originally Published 1 year ago — by Fortune
The emerging renewable fuel industry is expected to drive down meat prices in the US by creating a surplus of soymeal, a key animal feed ingredient. This surplus will result from processing soybeans to produce plant-based jet fuel and diesel, leading to lower feed costs for meatpackers and increased meat production. While it may take time for these cost savings to reach consumers, the drop in meat prices will provide relief to households grappling with inflation. The lower input costs will also benefit meatpackers, potentially leading to increased exports of surplus meat.