Groceries could see meat shortages by end of week [MSNBC.com]
Tyson Foods, Inc. (TSN)
Last tyson foods, inc. earnings: 2/6 07:30 am
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Source: MSNBC.com
This is not the time to pig out.Beef, chicken and pork could be as scarce as toilet paper soon because so many meat processing plants have been temporarily shut down amid thecoronavirus pandemic“We've just completed our third week of reduced slaughter and production,” Dennis Smith, a commodity broker/livestock analyst withArcher Financial ServicesOverall meat production is down 25 percent, Smith said, “which is a huge decline.”It might be time to save some bacon, since the amount of pork in frozen storage dropped last month by 4 percent, to 621 million pounds, theDepartment of Agriculture“The cause of the shortage is reduced production due to labor issues at the packing plants,” Smith said. “Some plants have closed for deep cleaning and will remain closed until the employee base has recovered from the virus. Others are implementing safety procedures which in effect slows processing speed at the plants.”Case in point: TheSmithfield FoodsRight now, there is enough meat to feed American
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