Some major media outlets have reported that the labor strike at the greedy Colorado beef plant is going to reduce the amount of meat available to consumers. Bottom Line analysts say that’s simply not true.
The strike at the plant, entering its fifth day now today, it is by the way the first strike at a U.S. meat packing facility in some 40 years. Company and union officials point to the likelihood of a two-week, maybe three-week strike. Elsewhere, looking at cattle on feed report, likely going to continue to show the lowest cattle numbers since the 1950s.
Media reports also suggest that retail prices are high due to the short supply. Again, Bottom Line analysts say a Kansas State University study shows that 86 percent of the current rise in prices due to the rise in consumer demand.
Audio Reporting by Mark Oppold for Southeast AgNet.