The beef cattle industry will receive $5.1 billion of CFAP funding to partially offset 2020 losses due to COVID-19. USDA expects to begin sign-up in early May and distribute payments by late May or early June.
The U.S. and global economy is in uncharted waters. There are many unknowns about the timing, severity and aftermath of the disease. For beef, there are longer-term questions about the overall impact on demand.
Follow the money. That might be the best way to determine whether meatless meats become a disruptive technology for livestock producers or just another niche player in a multitrillion-dollar global protein industry.
Consumers first saw beef supply disruptions in March when the shutdown of food service shifted demand to the retail grocery side where supply chain bottlenecks and a surge in demand resulted in temporary shortages.