Beef Wins in Post-Pandemic Economy as Tyson Sees Record Margins By Bloomberg – Investing.com

Beef Wins in Post-Pandemic Economy as Tyson Sees Record Margins By Bloomberg – Investing.com

(Bloomberg) -- It turns out a pandemic can do wonders for the economics of beef, and meat companies like Tyson Foods Inc (NYSE:). are reaping the benefits.

Currently, there’s plenty of cattle in the U.S. Last year Covid-19 caused meat plants to shut down, and farmers had nowhere to send animals. Ranchers simply left their herds to graze on pasture and multiply.

Now add high beef prices to that. Pandemic restrictions are easing, restaurants are reopening, and the meat is in high demand. So far Americans have been willing to pay up for more expensive steaks and burgers.