Derrell S. Peel, Oklahoma State University Extension Livestock Marketing Specialist — The U.S. economy was wracked like never before in the first half of the year. The Bureau of Economic Analysis (BEA) released preliminary estimates showing that U.S. Gross Domestic Product (GDP) declined by an unprecedented 32.9 percent year over year in the second quarter of 2020. This follows a five percent first quarter decrease compared to last year. This highlights questions about the impact of the pandemic on beef demand in the first half of the year and, more importantly, beef demand for the remainder of the year. The…

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