U.S. Meat Squeeze Eases on Slaughterhouse Revival, Slack Demand
- Plants working at higher than 80% rates compared with 2019
- Covid-19 limits may hurt demand during Memorial Day Weekend
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The squeeze on U.S. meat is easing. Wholesale prices are falling as slaughterhouses recover from Covid-19 related shutdowns and traders brace for lower demand than usual over the Memorial Day holiday.
Enough workers returned to American slaughterhouses that pork and beef plants through Wednesday were operating at 85% and 81%, respectively, of year-ago levels. That’s a rebound from late in April, when production of each meat fell by more than 30%.