Meat production in the U.S. has rebounded from its low when dozens of plants were closed because of the coronavirus pandemic. But experts say consumer prices are likely to remain high.
Mike Drinnin reaches out to a cow at a feedlot in Columbus, Neb., Wednesday, June 10, 2020. Drinnin, who owns feedlots in Nebraska, said everyone involved in raising and feeding cattle felt the squeeze this spring when beef and pork processing plants were operating at roughly 60 percent of capacity amid the coronavirus pandemic. It's welcome news that production is now above 95 percent of last year's level, but a backlog of millions of pigs and cattle remains.
Grocery stores, which absorbed some of the meat price increases this spring, also may not pass along all the price cuts as they try to restore their profit margins. But to work through the beef and pork backlogs quickly, meat processors may have to find ways to boost production higher than last year’s levels, said Will Sawyer, a protein economist at Cobank, an agribusiness bank. Before the pandemic, meatpacking plants had been expected to produce more than they did last year.
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