After that, the impact rises to 25 to 45 cents. If the Strait of Hormuz remains closed or uncertain until August, he estimates ground beef prices will rise by 75 cents to a dollar a pound.
He said the war has increased to cost of fertilizer to grow corn for cattle and diesel prices are up.
“And when we look at meat in particular, that’s brought to our distribution and our supermarkets by refrigerated trucks, which use more diesel than non refrigerated trucks, and then the plastic packaging and everything else,” Lempert told Meatingplace magazine.
Australia was the biggest foreign supplier of beef for hamburger iand it is among the most vulnerable economies to the Hormuz crisis, he said,
Authorities there, as well as ranchers and other business people, are already warning that they could run out of transportation fuels as early as mid-April.
