US meat prices to remain higher through 2020

US meat prices are expected to remain higher than usual through the rest of 2020 and have a total increase of 6.5%. More specifically, beef prices are expected to rise by 9%, pork prices by 5.5%, and poultry prices by 4.5% in 2020 compared to 2019 according to USDA data. Though prices are falling from mid-pandemic highs as processing factories have reached pre-COVID production, the rate at which prices are falling is not fast enough to reach pre-COVID levels before the end of the year.