At the start of the pandemic, the virus threatened to shatter a key link in America’s previously unbreakable food chain: the meat industry trib.al/FAYnqIQ
But how exactly did we end up with empty supermarket meat cases?
These shortages were the result of Covid outbreaks at a handful of companies responsible for most of the country’s meat supply trib.al/FAYnqIQ
About 50 plants are responsible for processing 98% of the cattle in the U.S. Most of those plants are owned by just four companies:
🍗Tyson
🥩JBS
🥓Cargill
🍖National Beef Packing
Collectively they control 73% of the cattle-processing market trib.al/FAYnqIQ
In good times, consumers can benefit from the considerable efficiencies these companies create.
But when things go wrong, as they did last year, such consolidation becomes a vulnerability trib.al/FAYnqIQ
In April, just 12 plant shutdowns idled 25% of American pork-processing capacity and 10% of beef.
As the U.S. was on the brink of dangerous protein shortfalls, Tyson took out full-page ads warning that “the food supply chain is breaking" trib.al/FAYnqIQ
There was no shortage of animals to slaughter.
The problem was a lack of viable alternatives to the big slaughterhouses. With nowhere to ship their hogs and cattle, many farmers had no option except euthanasia trib.al/FAYnqIQ
Minnesota spent more than $6 million helping desperate farmers with “depopulation and disposal efforts.”
Nationwide, as many as 800,000 hogs were destroyed through July — even as Americans were staring at empty shelves trib.al/FAYnqIQ
Eventually, plants were able to re-open with more rigorous safety measures in place, and fears of a shortage eased.
But a crucial contributor to this bottleneck — which still hasn’t been fixed — was regulation trib.al/FAYnqIQ
Thanks to the Wholesome Meat Act of 1967, a well-intentioned attempt to create a national meat-inspection program, producers must use a federally inspected processing facility if they want to sell across state lines trib.al/FAYnqIQ
Over the years, the costs of complying with this measure have proved all but prohibitive for small, family-owned companies.
In 1967, there were 9,267 livestock slaughterhouses in the U.S. Since then, that figure has declined by 70% trib.al/FAYnqIQ
Restoring resilience to America’s meat supply chain will be a long process.
But any effort should start by amending the Wholesome Meat Act so that state-inspected meat processors can sell across state lines trib.al/FAYnqIQ
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With vaccination campaigns underway around the world, governments everywhere are about to face the same ethical dilemma:
How to deal with people who’ve completed their immunisation program trib.al/yf2HQXo
The pressure to give back vaccinated folk’s full personal and social liberties, and to let them contribute in full to the economic recovery will be strong.
But states would be unwise to create different classes of citizens trib.al/yf2HQXo
At least 28 million citizens globally have received both jabs needed to be effective:
🇺🇸U.S. 14 million
🇪🇺EU 7.1 million
🇮🇱Israel 2.5 million
The world’s population is slightly less than 8 billion, so the proportion is tiny. But it will grow quickly trib.al/yf2HQXo
Smell has long been our most underrated sense, writes @andreaskluth
Perhaps that’s why we know relatively little about it. Claire Hopkins, aka @SnotSurgeon, says the science of olfaction, compared to that of vision or hearing, is still in the Stone Age bloom.bg/2MUHjAx
Elon Musk’s endorsement of Dogecoin as “the people’s crypto” — cheered by Gene Simmons and Snoop Dogg — sent Reddit traders stampeding into the Shiba Inu-themed coin.
As a result, its price is up around 1,000% year-to-date, eclipsing Bitcoin’s rise trib.al/V3V0dwY
Musk, reveling in the social-media excitement and speculation, tweeted: “I am become meme, destroyer of shorts.”
Yet Bitcoiners have chided Musk for inciting a doomed punt: “You’ve actually become a destroyer of lives,” one tweeted trib.al/V3V0dwY
The wagging fingers have a point. Billy Markus developed three hours of code to build Dogecoin in 2013. He’s in disbelief:
“The idea of dogecoin being worth 8 cents is the same as GameStop being worth $325,” said Mr. Markus, 38 years old trib.al/ZeMbWbd
With the Covid-19 crisis still raging in the U.S., some big advertisers have chosen to sit out Super Bowl LV:
🍻Budweiser
🥤Pepsi
🚗Hyundai
🥑Avocados From Mexico trib.al/wwxFeCR
For Budweiser, it’s the first time in almost four decades that it won’t sponsor the NFL’s championship game.
Traditionally, it’s the advertising event of the year, with commercials just as much a part of the festivities as the game and halftime show trib.al/wwxFeCR
But the mood is different this year, and the excitement is lacking, even if M&M’s, Pringles and some of the other usual suspects will be there.
Companies that made the biggest air-time purchases for 2020's game are headed into 2021 with tighter budgets trib.al/wwxFeCR
There are more top female leaders than ever before:
♀️In the U.S., about 25% of the legislature is female
♀️Kamala Harris just became the first woman vice president
♀️Half of the Biden-Harris cabinet is female trib.al/CoFV1qv
Women leaders are making gains in business as well.
For the first time in history, all S&P 500 firms have at least one female board member. The number of women CEOs in the S&P 500 hit an all-time high (though still only 7.8%) at the end of 2020 trib.al/CoFV1qv
For decades, we operated under a “think manager, think male” stereotype. Both men and leaders are expected to be: