(Bloomberg) — If getting more pork to consumers is the only gauge, then U.S. President Donald Trump’s order for slaughterhouses to reopen after Covid-19 outbreaks looks like being a resounding success.
Government estimates for daily hog slaughter jumped 19% from a week ago and is now only 11% below year-ago levels. The cattle kill is also up. The chart below shows the hog slaughter recovery, with the intermittent dips representing weekends.
Top meatpacker JBS SA (OTC:) said Friday that while output is likely to keep climbing, it’s too soon to say that the worst is over given all the virus unknowns.
©2020 Bloomberg L.P.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.