AGRIBUSINESS: Hot Weather Threatens Promising Hog Market
Poor crop weather isn’t just hurting the outlook on corn and soybeans; Purdue economists say the heat is now threatening a promising hog market.
Somewhat paradoxically, pork is breaking record sales and becoming the fastest-growing protein in the foodservice industry. Yet rising corn and soybean meal costs are causing economists to expect a $5 increase per live hundredweight over the next year.
In spite of the expected increases, pork sales are up 2.3% form 2011. By pound, bacon grew the most of pork products: up 102 million pounds. By percent, pulled pork grew the most: 8% over 2011 figures.