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Texas A&M economist David Anderson said livestock markets are being hit by the COVID-19 shift from restaurants to grocery stores and by plant slowdowns and shutdowns. He noted chicken wing prices have collapsed, and that beef, hog and dairy markets are also under strain.
Foodservice-to-retail shifts and plant slowdowns reduce demand for specific cuts such as wings, which weighs on chicken prices. Processing disruptions also affect the balance across livestock markets.
farmprogress.comShelley E. HuguleyApr 30, 2020Not enough comparable past events yet for a historical read.
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.
