What the JBS cyberattack means for your meat supply - CNN - 0 views
-
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.
-
"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.
- ...2 more annotations...
-
Steve Meyer, an economist with commodity firm Kerns and Associates, agreed that a one or two day disruption could cause wholesale meat prices to jump. But if the problem is resolved within a few days, he said, restaurants and grocery stores are unlikely to pass those costs onto consumers.
-
"Then you're probably going to have some buyers, whoever depends on JBS for their supplies, that probably could be short product," he said. In that case, for consumers, it would depend on where their local grocery store sources its meat. "If they buy it from JBS then you might see some shortages. If they don't buy it from JBS, you might not see anything at all."