My intial assumption was that fewer people eating meat means lower prices because of a larger supply for lower demand. But of course it might mean fewers ranchers and companies investing in livestock in the first place because fewer expect to make a profit on it. What’s the market analysis say to anyone familiar with it?
I’d imagine this would be neigh on impossible to measure, but one can generalize some basics. COVID caused massive drops in transportation, so gas prices went down due to less demand.
A truly drastic drop in demand for meat would cause prices to drop. Eventually, some producers would probably stop producing. So eventually, less would be produced. However, a drop in price will increase usage among those who were sensitive to the price, which would limit the reduction in production.
What about horse meat?