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The Story of Money

When coronavirus hit America's meat industry

The Story of Money

Manuela Saragosa

Business, Crypto, Markets, Finance, Banking, Investing, History, News

4.4400 Ratings

🗓️ 12 May 2020

⏱️ 20 minutes

🧾️ Download transcript

Summary

This was supposed to be a record year for the US meat industry. But when coronavirus hit the meat-packing plants, it exposed a vulnerable link in the supply chain. We take a look at how our meat gets from the farm to the supermarket, and ask what the fall in production could mean for the US-China trade truce. With the FT’s Gregory Meyer. 


To get free access to the FT’s Coronavirus Business Update newsletter for 30 days, visit ft.com/behindthemoneycovid.


Further reading:

Coronavirus: return to work divides US meat industry (paywall) 

https://www.ft.com/content/f6e2b4ad-4a62-4c6f-8348-38704e3e81f6


Tyson Foods warns of sales declines and rising costs (paywall)

https://www.ft.com/content/f0b4f894-cd46-44f2-b7b0-10707de449db


John Tyson laments breakdown of meat system his family pioneered (paywall)

https://www.ft.com/content/82c2f5fa-1070-4388-853b-a2ed430fbf04


Pandemic accelerates shift to meat substitutes (paywall)

https://www.ft.com/content/0127984a-6def-4040-9bca-002b6ffd4e0a


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On 12-14 May, the Financial Times, in partnership with TNW, will gather the most senior global decision makers and leading minds in policy, business, tech and finance for three days of online conversations with top FT journalists, analysing the impact of the pandemic across global economies, industries and markets, and outlining what is required to shape the optimal conditions for recovery at this most challenging of times. Register at globalboardroom.ft.com.


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Transcript

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0:31.6

Meat processing plants are not typically places seen or visited by the general public,

0:38.0

and you might not know what's going on inside, but you might be tipped off by the intense smell of the process of

0:47.0

slaughtering animals and turning them into meat.

0:49.2

There's a Tyson Foods beef plant outside of Pasco, Washington.

0:52.8

It's the second largest employer in the county.

0:55.4

It is a largely windowless factory

0:58.1

that looks like almost like a warehouse perhaps

1:00.5

with some additional exhaust.

1:02.1

It's flanked on a couple sides by vast stockyards

...

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