I hate to be a conspiracy theorist, but I would not put a bit of market manipulation past Tyson
Let’s say you have some plants specifically serving restaurants and food service. They have not been doing well at all the last 6 weeks. So you shift some production to other plants, and declare to the media those closed plants “have coronavirus.”
Knowing the fear-mongering media will grab on to it, then use the opportunity to tell customers - sorry - price is going up 25%! Its all over the news!
“I hate to be a conspiracy theorist, but I would not put a bit of market manipulation past Tyson.”
Not being snarky, but isn’t that classic Captain Obvious? For Tyson, market manipulation isn’t something nefarious, but is about survival as a business, and that quickly can turn into `anything goes’.
Maybe PDJT should task his USDA to issue an as-objective-as-possible prediction of meat futures & availability, with the purpose of maintaining calm amongst consumers.
“Buy our meats and stock your freezers now, before it’s too late!!” seems to be the opposite message coming from Tyson.
Uh...just thought of something. Aren’t unsold livestock piling up now, just like the milk? Wouldn’t Tyson want to encourage panic buying, process that meat on the hoof into products, and make some extra dough-re-mi? Not conspiratorial, just market forces at work.
People still need to eat at home, more so now, as restaurants are either shut down or just drive-thru etc. Other meat plants are shut down. This could get back very fast.