Where's the Beef...I mean Pork?
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On Monday morning, Tyson Foods said during an investor call that U.S. hog processing capacity had dropped by 50 percent.
The company has been severely affected. Three of Tyson’s six main U.S. processing facilities remain closed, and three others are operating at reduced capacity, the company said.
Steve Meyer, an economist for Kerns and Associates, an agricultural risk management firm, said Tyson’s production numbers may be even more dire.
“By my calculations, last Friday, pork production was down 42.9 percent for all U.S. companies,” he said by phone Monday. “Tyson, by my calculations, was down by 57,780 hogs processed per day from a capacity of 78,500 processed per day. That’s 74 percent short.”
Tyson declined to give further details. -
Yep. Went to replenish my ribs at Costco today. No pork to be found.
