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.
