Pork consumption slowing globally

by | Aug 4, 2023 | 5 Ag Stories, News

Consumption of our commodities is what sets the tone for our supply and demand ratios that set our prices. Pork is not exempt from this phenomenon. We spent much of the year with low prices which meant that suppliers were holding on to large amounts of product which was outpacing demand, despite the low prices on the shelf.

Christine McCracken is a Senior Animal Protein Analyst with Rabobank. She talks about what they have discovered in their latest Quarterly Pork Report.

McCraken says that while the supply has been growing, so have the prices at the meat counters, and that is starting to slow how much pork is moving.

McCracken says that the reason we are seeing such a sluggish pace is because of the high supplies. However, the prices and supplies of beef are keeping pork consumption from getting too low.

Poultry has been a growing competitor in the protein markets as the prices have come down after the latest Avian Influenza outbreak.