'CNBC\'s Aditi Roy reports on why U.S. pork exports are soaring. On trips to the grocery store and the fast food drive-thru, customers have yet another reminder of how the coronavirus pandemic has disrupted their routine: Emptier than usual meat aisles. Butcher counters without the usual variety. And hamburgers that are harder to come by. In meatpacking plants from South Dakota to Tennessee, workers have gotten sick from the coronavirus as they work side-by-side cutting, boning and trimming meat. The spread has shuttered plants, slowed production and created a ripple effect across the supply chain. Farmers and ranchers have hogs, cattle and chicken that they feed, but can’t sell. Meatpacking plants don’t have enough workers as they get sick and have heightened anxiety. And grocery shoppers and restaurants can’t get their typical cuts or supply of meat. Major grocers, including Kroger and Costco, added purchase limits this week for meat to prevent hoarding and help keep it in stock. Nearly a fifth of Wendy’s U.S. restaurants removed hamburgers and other beef products from their online menus, according to Stephens Inc. And another chain, Shake Shack, said rising beef prices have taken a bite into its profits. Industry experts, analysts and a union that represents meatpacking plant workers say challenges with the country’s meat supply chain will likely linger as long as the pandemic does. “What we’re seeing is an imbalance between production and consumption, which is causing disruption throughout the entire value chain,” said Patrick Stover, dean of Texas A&M University’s College of Agriculture and Life Sciences and director of Texas A&M AgriLife Research. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2JdMwO7 » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC #CNBC TV'
Tags: News , breaking news , Business , Money , politics , finance , stocks , cnbc , Investing , ECONOMY , wall street , Newsroom , the exchange , kelly evans
See also:
comments