The rise in retail meat sales was never expected to fully replace the demand losses in the hospitality industry, but now meat supply at the grocery store could come under pressure as COVID-19 has forced the closure of several U.S. slaughterhouses.
Reuters reports that thus far, the plant closures have mainly affected pork and beef, which account for roughly half of all meat processed annually in the country.
The decline in cattle slaughter was even more pronounced as evidenced by the latest cattle on feed report from the U.S. Department of Agriculture.
Those feed figures may get worse before they get better, and that could increase headaches for U.S. corn and soybean growers, who are already reeling from the sharp loss in ethanol demand.
