President to order meat plants remain open

Meat stocks are higher after President Trump indicates that he will sign an order under the Defense Production Act for meat processing manufacturers to stay open.

The order could protect the companies from a liability standpoint, although with some COVID-19 deaths tied to meat plants it’s likely to be controversial as well.

Tyson Foods (TSN +5.9%), Pilgrim’s Pride (PPC +6.1%), Hormel (HRL +1.1%) and Sanderson Farms (SAFM +4.8%) are all notably higher. Analysts don’t expect the meat shortage to be a long-term consideration, although it should be supportive of pricing for producers.

https://seekingalpha.com/news/3565409-president-to-order-meat-plants-remain-open