The meat supply chain is broken. How long will shortages last?
Even before the closures of meatpacking plants, demand for meat rose as many customers stocked up on groceries. In the eight-week period that ended April 25, meat sales at grocery stores and other retailers were up 43% compared to the same period last year, according to Nielsen data.
That's eventually felt back at the plants, as workers and companies that typically process meat for restaurants produce kinds of meat that customers aren't looking for at the grocery store. Industry analyst Heather Jones said that some meat products will be easier to find than others. Steak, for example, will be in ample supply as fine-dining restaurant sales continue to plummet.
If they can't move food today, they can't start the preparation, the planting and the breeding for the food that's going to be needed months from now.Restaurants' meat supply may be squeezed as meat processors scramble to meet grocery demand. In a research note, Stifel analyst Chris O'Cull said he spoke to food distribution industry sources who said grocery store orders are being prioritized ahead of restaurant orders.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Analysts say stocks like Amazon and Wingstop will continue to benefit from a socially distant worldYour weekend brief: Analysts say stocks like Amazon and Wingstop will continue to benefit from a socially distant world
Weiterlesen »
'I just miss them so much': What it's like to be principal of a school closed by coronavirusPrincipals across the country are adjusting to new routines, and though each one's experience is different, their stories provide a clearer idea of what everyone faces.
Weiterlesen »
Courteney Cox Jokingly Says Her Daughter Coco, 15, Gets Her 'Strange' Mother's Day GiftsCourteney Cox joked that she was happy about gift shops being closed during the coronavirus pandemic
Weiterlesen »
Why some nurses have quit during the coronavirus pandemic"Right now, nurses don’t feel like heroes, we feel expendable.”
Weiterlesen »
Trump: government will buy $3 billion of meat, produce from farmersNEW: President Trump announces the federal government will purchase $3B of dairy, meat, and produce from farmers as the coronavirus pandemic continues to disrupt the food supply chain.
Weiterlesen »