Three of America’s leading livestock economists have released a new working paper that examines in-depth the dramatic impact the COVID-19 pandemic unleashed on cattle, beef and pork markets this spring.
June production data for beef, pork, chicken and turkey show an 8.2% increase over the same month in 2019, suggesting processors have overcome the disruptions from earlier this spring.
McDoanld's reported dismal second quarter sales compared to a year ago, but sees improvement ahead as the fast-food giant "has learned to adjust our operations to this new environment."
Beef and pork sales posted another strong week, and retail meat volume sales have increased 22.5% during the COVID-19 pandemic, resulting in an additional $7.4 billion in meat department revenue.
Cattle feeding losses were estimated at $194 per head the week ending July 11, a $60 per head improvement over the previous week, according to the Sterling Beef Profit Tracker.
Burger King does not care about the prosperity of your farm or ranch. Oh, BK would never admit to as much, but that’s the only conclusion one can draw from its latest drivel disguised as an advertising campaign.
Fourth of July meat sales in America saw a 4.1% increase in volume over 2019, and a double-digit increase in dollar sales compared with the same week a year ago.
America’s economy is showing signs of recovery from the impact of the coronavirus pandemic, but any economic surge is likely over, according to a quarterly report from CoBank’s Knowledge Exchange.
Production slowdowns at American meatpacking facilities caused by the coronavirus pandemic this spring produced declines in exports for both beef and pork during May.
The return of slaughter capacity to pre-coronavirus levels is good news, but the backlogs of cattle and hogs from the weeks of reduced capacity harvest remain a burden to producers in both markets.
Wholesale price declines suggest most packing plants have nearly recovered from the COVID-19 virus shock of a few weeks ago though the backlog of cattle and hogs will persist for a while longer.
