CAN LOFTY PORK PRICES BE MAINTAINED?
Hog and pork markets probably won’t be able to maintain the excitement of this spring when live hog prices reached the mid-$60s in early-to-mid-May. Recent concerns over European debt have caused many markets to be more cautious about world economic recovery and consumer demand. The related strengthening of the dollar has also dimmed prospects for meat exports. Last year demonstrated just how critical a recessionary economy was in weakening pork demand. A more cautious world now likely means some moderation in pork prices from recent lofty levels, but prices are not going to fold either. The best news is that pork supplies are down and will stay down for the rest of the year. Pork production so far this year has been down four percent, and with population growth and expanded trade, per capita availability has been down about five percent. Per capita supplies should be down near eight percent this summer, then down three percent to finish the year. Limited amounts of pork should help ma
