IARN — Certainly, a lot of focus is on the current COVID-19 pandemic, and the effects it is having on the agricultural sector. Even more attention is being paid to the effects specifically facing the meat industry. This is being watched by not only the producers but by the consumers. As plants shut down or slow down because of the virus, many people wonder how it will affect the food supply. However, this is just the latest in a string of challenges the industry has faced in the past months and years.
The challenges for the meat industry are at a high point. Packers have closed their doors, producers have nowhere to send their animals and are having to euthanize them, and consumers are spending more at the grocery store for their food products. This is all affecting the markets, which had seen enough pressure before this pandemic happened. CoBank analyst Will Sawyer says producers’ losses are topping anything we have seen in years.
For more on this story, including comments fromCoBank analyst Will Sawyer, visit the Iowa Agribusiness Radio Network.