Question

State 4 economic importance of meat​

Answer 1

The most frequently asked question in a broiler operation is which breed should be used? Integrators tried multiple breeds in their operation and now they have the results . Unfortunately these results most of the time only consist of average daily gain, feed conversion ratios, and mortality. They less often go into any detail about the different yield values they have got in the testing process or even what their product mix consists of. These things are just as important if not more economically than the live factors that go into choosing a breed for an operation.

Of course there are some countries with very large live bird markets and a few countries where the industry is not vertically integrated, and in those situations the meat yield difference of one breed versus another may not be very important. In most poultry markets around the world, however, the end product is meat and the economic factor driving the company is profit per pound or kilogram! Here, a good combination of live performance and meat yield are critical in analysing the most profitable breed for each specific company based on their needs for their product mix.

Answer 2

• The meat industry may also be an important component of the export sector, generating not only valuable foreign exchange but also savings through import substitution.
• Meat production therefore provides the opportunity for converting non-exportable resources into an important component of the national economy.
• Meat production is an important part of the world economy with important contributions to local, national, and international trade. There may be multiple paths to the future of meat production.
• The American Meat Institute released a new economic impact study in June that shows the nation's meat and poultry industry contributes roughly $832 billion, nearly 6% of total gross domestic product, to the U.S. economy, along with nearly 6.2 million jobs and $200 billion in wages and benefits.