Protein prices have increased rapidly in the past 24 months, amid the broader press of inflation. With inflation at its highest rate in more than 40 years, the question becomes how long beef, pork and poultry prices can remain at such elevated levels before demand erodes significantly.

David Williams is senior vice president of procurement and management at CTI Foods, based in Texas. In this episode, Williams discusses the current state of the animal protein markets, with an eye toward the implications of sustained food price inflation on demand, and how those same factors will influence the supply side of the equation over the next 12-to-24 months.

We also discuss the persistent drought in cattle country, and why he says most analysts are underestimating how much the cattle herd is shrinking as producers struggle in the absence of hay and pasture.

This episode is sponsored by United Animal Health, a leader in animal health and nutrition. You can learn more about United Animal Health and how they are working to advance animal science worldwide by visiting their website UnitedANH.com.