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. […]