Shoppers may want to brace themselves for yet another possible supply crunch — this time with meat.
JBS USA, the country’s top beef producer and its second largest producer of pork, suffered a cyberattack this weekend, prompting reported shutdowns at company plants in the United States and globally. Does fallout from the attack mean a tighter meat supply ahead, and as a result, higher prices? That depends on how quickly the issue is resolved, according to experts. « Even one day of disruption will significantly impact the beef market and wholesale beef prices, » Steiner Consulting Group, which specializes in commodity prices, wrote in a note Tuesday. Partially, that’s because of the high demand for burgers and other beef products during Memorial Day Weekend. « Retailers and beef processors are coming from a long weekend and need to catch up with orders and make sure to fill the meat case. If they suddenly get a call saying that product may not deliver tomorrow or this week, it will create very significant challenges, » Steiner explained.
