In the US I expect prime meat to be considerably cheaper than usual. With restaurants not buying there will be a glut and I expect regular stores (instead of just speciality shops and suppliers) will be getting it for awhile.
If there’s 1 thing the US has it is food and the supply chain is excellent. If anything this is an opportunity for the US to make a move on trade with Britain and possibly the EU to export our Ag there, for awhile anyways.
Anecdotal but at Costco the other day all beef was sold out except the prime cuts. I ended up buying some after noticing the price wasn't much higher than what I used to pay. Now, granted, I don't remember what prime meat used to cost, so maybe it was always competitive at Costco?
On the day the President declared a national emergency, all the meat was sold out at the local HEB, even the wagyu stuff -- everything. But that was... two weeks ago, and it was probably the start and peak of food panic buying? Today at the local H-Mart there was plenty of everything.
No doubt the supply chain is catching up. I think things will be fine for many commodities, especially less labor intensive ones like staple crops. I worry about meat, because, AFAIK, it is fairly labor intensive. I think we may see shortages and price increases in a month or two if the virus doesn't subside.
Only some farms use immigrant labor. They are in trouble. There will be plenty of meat as there is much less labor involved in general. Fruits and vegetables could be left to rot in the field though for lack of labor.
If there’s 1 thing the US has it is food and the supply chain is excellent. If anything this is an opportunity for the US to make a move on trade with Britain and possibly the EU to export our Ag there, for awhile anyways.