Wholesale Beef Costs Rose as Cattle Prices Dropped During Supply-Chain Disruptions in 2020

Kate Vaiknoras and William Hahn ()

Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, 2022, vol. 2022

Abstract: The Coronavirus (COVID-19) pandemic caused significant disruption to U.S. meat supply chains in the spring and summer of 2020, according to a recent USDA, Economic Research Service report. In the early months of the pandemic, COVID-19 infections caused worker absences at beef packing plants, leading to a slowdown in slaughter rates and even some temporary plant shutdowns. From mid-April to mid-June 2020, the decrease in slaughter rates—combined with a surge in retail demand—drove a historically wide gap between wholesale meat and livestock prices. Wholesale beef prices rose, while cattle prices remained low. The price changes affected the entire supply chain. Cattle producers struggled with low prices for their market-ready animals and consumers paid more for beef at grocery stores.

Date: 2022
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Journal Article: Wholesale Beef Costs Rose as Cattle Prices Dropped During Supply-Chain Disruptions in 2020 (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersaw:324146

DOI: 10.22004/ag.econ.324146

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