Beef prices are on the rise — and likely will be for the next few years

 

Courtenay Brown, Axios

via  Yahoo News - June 7, 2021

 

The beef industry is having a rough year — and consumers are footing some of the bill from the fallout.

 

Why it matters: The ransomware attack on meatpacking giant JBS is the latest hit. But other blows, like droughts, could cause sticker shock to stick around for years.

 

What they're saying: The issues will "increase beef prices probably for the next two to three years," given beef's long production cycle, says Katelyn McCullock, a senior economist at the Livestock Marketing Information Center.

 

Where it stands: Beef and veal prices are up over 3% from a year ago, according to the latest government data.

 

What's happening...

 

·         Dry conditions across the country...

 

·         Pandemic hangover ...

 

·         The JBS ransomware attack ...

 

more

https://news.yahoo.com/beef-prices-rise-likely-next-214325017.html