Will Pork Producers See Another Profitable Year?

April 18, 2016 03:00 PM
 
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Domestic meat demand increased in 2015 for the fifth consecutive year. Meat demand is closely tied to the economy. As long as wages and the number of people with jobs increase, the demand for meat is likely to increase. Recessions are hard on the pocketbook and therefore on the demand for meat.

In recent years, pork demand has been carried in part by the popularity of bacon. Prior to 2013, retail bacon prices always averaged under $5 per pound. Since April 2013, bacon prices in grocery stores have averaged above $5 per pound for every month except one. The surge in bacon prices began with the increased use of bacon as a condiment on sandwiches and salads. The length of this price rally implies that it is much more than a temporary fad.

Read the full story on Pork Network.

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