U.S. hog prices are being supported
by strong demand, according to Purdue University economist Chris Hurt. He says
pork production is expected to rise by three percent in the first-half of 2018
and by near four percent in the last-half of 2018. The theme for the pork
market in 2017 was higher production and higher prices when pork production
rose by 2.5 percent and hog prices were up ten percent. The reason was strong
pork demand around the world. That was led by bacon demand in the U.S. where
retail prices were up about seven percent and by pork exports expanding around
seven percent. For 2018, he says the futures market appears to be following
demand, as the U.S. economy is expected to grow more rapidly this year, with a
drop in unemployment, along with the world economy expected to be the strongest
since the 2008-2009 recession.
Welcome
