Demand for pork drives strong prices for summer
Jeff DeYoung, Iowa Farmer Today
Apr 28, 2021
Demand for U.S. pork continues to be strong, and that should bode fairly well for prices over the course of the next few months.
Scott Brown, Extension ag economist with the University of Missouri, says that demand comes as the hog industry works through historically high inventory numbers.
“Sow numbers are dropping, but I question how long that will last,” he says, adding higher prices generally tempt producers into maintaining or increasing breeding herd numbers.
Brown spoke during a National Pork Board webinar April 16.
Forecasts suggest that lean hog prices should average in the $75 per hundredweight range in the second quarter of 2021. Third quarter prices will be in the $71 range, with fourth quarter prices tumbling into the high-$50s.
“There is some downside risk involved with hog prices,” Brown says...