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Tyson Foods says food supply chain is breaking, which will drive prices up

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OF ITS PART TIME AND FULL TIME STORE EMPLOYEES THE LEADER OF ONE OF AMERICA'S BIG FOOD COMPANIES HAS A SERIOUS WARNING

JOHN TYSON SAYS THE FOOD SUPPLY CHAIN IS BREAKING AS MICHAEL MAHONEY TELLS US, THAT MEANS THE PRICE OF MEAT IS GOING UP >> THE REMARKS ARE THE RESULT OF A TWO-WEB SWORD NUMBER ONE, A CHOKE POINT AT THE PROCESSING PLANT RESULTING IN NUMBER TWO, A SURPLUS OF FARM ANIMALS FOR FOOD >> I FULLY ANTICIPATE THE PRICES AT THE GROCERY STORE TO GO UP RATHER SOON

>> GLEN TONSOR IS WITH THE SCHOOL OF AGRICULTURE THIS CHART SHOWS THE INCREASES HAVE ALREADY STARTED TYSON MAKES MANY BRANDS AND IN A STATEMENT THEIR CHIEF PREDICTED THERE WILL BE A LIMITED SUPPLY OF OUR PRODUCTS AVAILABLE IN GROCERY STORES >> I THINK YOU'RE GOING TO HAVE LESS MEAT CHOICES THAN YOU'VE HAD IN THE PAST THAT'S NOT THE SAME AS MEAT IS NOT AVAILABLE BUT WE HAVE MASSIVE SHIFTS STILL UNDER WAY

>> ESPECIALLY AT THE PROCESSING PLANTS INCLUDING THE ONES AROUND HERE THE VIRUS HAS FORCED SOME TO CLOSE AND OTHERS SOCIAL DISTANCING AND OTHER PRECAUTIONS ARE SLOWING DOWN THE PRODUCTION LINES >> PROCESSING IS CREATING A BOTTLENECK >> PAT MONTGOMERY WITH THE KANSAS CITY CATTLE COMPANY >> THE OTHER ISSUE IS PRODUCERS ARE SLAUGHTERING ANIMALS THEY CAN'T GET INTO THE MARKET SO THERE IS A SURPLUS AND A SHORTAGE >> I'M HOPEFUL THAT THIS IS A DAYS AND WEEKS STORY, NOT MONTHS

>> AS A RESULT, LOOK FOR THE PRICE OF BEEF, PORK, AND POULTRY TO GO UP PERHAPS SHARPLY IN THE NEXT FEW WEEKS MICHAEL MAHONEY, KMBC 9 NEWS >> ECONOMISTS SAY THERE

Source: Youtube

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