The real reason beef prices are skyrocketing right now

Something weird is happening in our supermarket meat section, and it has to do with the price of beef.

While we had originally expected the price of beef to fall because China isn't importing any at the moment, and because a projected economic slowdown means people may not have the appetite for more expensive meats like beef, the opposite has happened. Thanks to the pandemic, people may be heading to groceries less often, but they are also buying more when they're there, so meat processors are making a killing.

The National Chicken Council shows meat sales skyrocketed by an eye-watering 76.9 percent for the week ending March 15. Ground beef made the most money for wholesalers, followed by chicken breasts, pork loin, chuck, and ribeye (via Food Dive). One study reported in Modern Farmer shows that meat sales are up 91 percent compared to the same period last year. And for beef, that means an estimated $180 million bump in sales.