February 22, 2013

US could see new pork export record in 2013

The US pork industry could reach a new export record in 2013, according to an agricultural economist with the University of Missouri.

Despite the second highest hog prices ever in 2012, record high feed costs resulted in average losses of about US$12 per hog last year in the US.

Dr Ron Plain, an agricultural economics professor with the University of Missouri, says while the country seen a drop in overall per capita meat consumption in the US and domestic meat consumption is expected to fall to its lowest level since 1991 this year, meat exports are expected to remain strong.

Chicken exports were also record high in 2012 as were turkey exports.

Dr Plain notes total meat supplies are down in response to these high feed costs so across the board, there's opportunities for higher prices for pork, beef and poultry which is positive for hog producers.