STEINAUER, Neb.—It would be hard for Americans to miss that taking the family out for a steak dinner has become more and more of a luxury. Wholesale price of beef was up some 40 percent in May, compared to the average in 2019, according to U.S. Department of Agriculture (USDA) data. Supermarkets and restauranteurs have partly absorbed the price increase and partly passed it on to customers. Curiously, however, there seems to be neither a shortage of beef, nor a drop in demand. In fact, ranchers have so much cattle, they struggle to get it off their hands and meat packers, it appears, are running near capacity. The unusual result is that small farmers struggle for survival even as packers haul in blockbuster profits. The situation is tied to the CCP (Chinese Communist Party) virus pandemic and the government response to it. The initial outbreaks and lockdown measures disrupted beef processing …
Farmers Get Creative as Profits from Soaring Beef Prices Fail to Trickle Down
July 16, 2021
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