World Perspectives
livestock

Livestock Round Up: Spilled Milk Causing Tears on Dairy Income

Last week we noted that the U.S. Department of Labor (DOL) announced initial claims for unemployment benefits was 3,283,000, an increase of 3,001,000 from the previous week's revised level. That was a record, but a short lived one. Today, DOL reported that initial claims were 6.648 million, an increase of 3.341 million. In February, unemployment was 3.5 percent; tomorrow the March unemployment rate will be announced, but the survey was taken early in the month and so will not reflect the full extent of layoffs as a result of COVID related shutdowns of businesses in at least 23 states. This isn’t good for meat demand, especially as all the heightened retail demand earlier in the month has probably filled consumers’ home freezers...

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