Concerns about red meat demand as COVID looms over holidays
By Mark Dorenkamp, Brownfield
November 12, 2020
The president of Global Commodity Analytics says the spike in COVID-19 cases could not come at a worse time for livestock producers.
Mike Zuzolo tells Brownfield that’s because the holidays are right around the corner.
“(We’re) Heading into some of the key meat featuring and seasonals that we rely upon to consume a lot of extra pounds of red meat. And we have a lot of extra pounds of red meat both in cattle and in hogs.”
He suggests fewer family gatherings could occur as people try to slow the spread of the virus.
But Zuzolo says reports that Pfizer might be close to finalizing a vaccine could not come at a better time to help alleviate concerns.
“And we see that in the cattle market. I think that’s why this supportive news for the corn and for the soy meal from USDA’s report may not have as big a negative impact on the livestock through the spreading of the fears and the corn and the fat (cattle), and the corn and the hogs and the meal.”
more, including audio [9:52 min.]