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Demand for beef continues to show strength, according to preliminary Beef Demand Index figures and other research. The preliminary figures show that demand increased 6.17 percent during the third quarter of 2000, as compared to the third quarter of 1999. Other research confirms the positive news for beef. According to Cattle-Fax, consumer expenditures on beef are expected to surpass $53 billion in 2000 -- the first time ever that annual expenditures for beef have exceeded $50 billion. Total beef expenditures were about $49.4 billion in 1999. An illustration of how beef is starting to recapture the attention of consumers can be found in the sales of prepared beef items. Since the industry began its focus on heat-and-serve beef products in January 1999, weekly sales of these products have increased by more than 131 percent. As of September, 50 new products were introduced. |
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