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Statistics Canada published an overview of how COVID-19 disrupted the Canadian beef supply chain. Plant shutdowns and reduced food service demand pushed consumer beef prices up while cattle prices received by ranchers fell.
The release also notes that the supply chain largely held up and that some pandemic changes may persist.
Processing bottlenecks depressed cattle values and lifted retail beef prices, so the disruption shows how plant capacity constraints can widen the gap between cattle and beef prices.
www150.statcan.gc.caTyler PatriceNov 17, 2020After 29 past bearish logistics events, Live Cattle moved a median -0.3% over 5 sessions (38% higher; middle half -2.0% to +0.5%), and -3.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
