U.S. Meat Shortage? 5 Grocery Stores Limiting Meat Purchases

A U.S. meat shortage is underway due to the novel coronavirus. As a result, some grocery stores are starting to limit meat purchases.

U.S. Meat Shortage? 5 Grocery Stores Limiting Meat Purchases
Source: ilzesgimene / Shutterstock.com

The following is a list of stores that are limiting meat purchases as the U.S. meat shortage grows.

Phil Lempert, a supermarket expert, told CBS Los Angeles the following.

“We don’t have to hoard. It’s true that we’re down to about 60% capacity in our meat processing facilities, again across all of those types of animal proteins, but it will come back, it will come back soon.”

The U.S. meat shortage comes as some factories are closing down due to the coronavirus. That was the case for Smithfield Foods, which shut down a meat factory in Sioux Falls, South Dakota. As a result, the company donated a large supply of meat to food pantries.

Beyond Meat (NASDAQ:BYND) stock also got a boost late in April on meat shortage concerns. The idea is that shortages could result in more customers buying its plant-based meat alternatives.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/05/us-meat-shortage-grocery-store-limits/.

©2021 InvestorPlace Media, LLC