CAB sales set record

Markets
Jan 2, 2009
by WLJ
CAB sales set record

For the first time in 30 years, Certified Angus Beef (CAB) brand annual sales reached 634 million pounds.

In fiscal 2008, 15,000 CAB licensees in 46 countries achieved an 8.8 percent increase, or 51 million pounds more than 2007 sales.

Despite a challenging economy, the brand saw six of its historical top 10 sales months in the past year. More than 14.2 million cattle were identified for the brand—a notable increase of more than 750,000 head in the past year—and 2.5 million were certified. Acceptance rates rose to 17.8 percent from 16 percent in 2007. During June, July and August, the share of Angus-influenced cattle in packing plants averaged more than 60 percent, including a record 64 percent for the third week of August.

Licensed retailers increased sales by more than 10 percent, selling more than 318 million pounds and accounting for 53 percent of all CAB pounds sold. International sales increased nearly 20 percent, totaling 62.1 million pounds; Canadian partners led the division, with notable gains in Mexico, Asia and the Caribbean. The foodservice division increased sales by 4.5 million pounds for a total of 213 million pounds sold and 42 percent of total sales. — WLJ

{rating_box}