Panic buying has been the norm for the past month or so. Consumers are hearing about closures of processing plants and are worried that we are going to see a major disruption in food supplies. (Just remember how everybody fought over toilet paper.) Just over a week ago, we learned the Tama beef processing plant was closing down. What is this meaning for our beef supply? The National Cattlemen?s Beef Association (NCBA) says we have enough beef for now.
NCBA CEO Collin Woodall says we still have plenty of beef in cold storage and over half of what is in storage would have been used for restaurants and foodservice. So, there is plenty for consumers. However, with plant closures, this is a fluid and evolving situation.
Woodall says that cattle still must be fed, and there is only so much that can be done right now in processing lines.
Woodall says there is no reason for shoppers to go into another panic buying mode.
More shutdowns in Colorado means more impact on the beef industry. Woodall says earlier estimates have already been outdated.