Beyond Meat Has Absolutely No Pricing Power
Beef prices are soaring. The USDA recorded a 9.3% increase in prices for beef and veal in 2021, and it expects another 6% to 7% increase this year. Meat processor Tyson Foods reported that its average price for beef rocketed 27.8% higher in the six months that ended on April 2. No matter how you slice it, consumers are seeing much higher price tags on their favorite cuts at the grocery store.
This seems like it should be a fantastic situation for Beyond Meat (NASDAQ: BYND). Beyond Meat's pea-based beef substitute is pricier than real beef, so it stands to reason that rising beef prices should make Beyond Burgers and other fake-meat products more attractive to consumers.
That's not what's happening.
Source Fool.com
