Pandemic Injects Volatility into Cattle and Beef Markets
American Farm Bureau Federation
The self-distancing and quarantine protocols put in place to slow the spread of COVID-19 have reduced economic growth, shuttered consumers in their homes, and changed the way Americans purchase and consume food. A slowing economy is bad for all of the animal proteins, but beef -- typically the highest priced of the proteins and considered a luxury product in economic terms – stands to suffer the most when consumers spend less in response to wage cuts and job losses.