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Beef Prices Soar To Record High As Meatpacking Plants Shutter

By Tyler Durden |

ZERO HEDGE — Wholesale American beef prices jumped 6% to a record high of $330.82 per 100 pounds, a 62% increase from the lows in February, according to Bloomberg, citing new USDA data.

The surge in beef prices comes at a time when the nation’s food supply chain network has been severely damaged by meatpacking plants going offline due to virus-related shutdowns and worker shortage. Bloomberg highlights the latest plant closures in the map below:

Soaring food inflation came one day after President Trump said he would be issuing an executive order  to address meat shortages. […]

2 Comments on Beef Prices Soar To Record High As Meatpacking Plants Shutter

  1. Beef and pork is a product of the farmers and ranchers of America but we’re lead to believe there’s a shortage of beef production by all accounts by the media, that’s not true. Since before the pandemic began in January 2020 beef and pork buyers have cut the price offered the raiser’s by over 30% or an average $250. But expenses continue to increase . . feed, fertilizer, hay, equipment and contract labor. The end product is outragous due to the markup by the chain.

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