April 4, 2011

US meat prices reaching record high

According to the Arkansas Farm Bureau, prices of pork, poultry and beef are reaching a 20-year high.

Steve Stephen is a pork and poultry farmer in West Arkansas, one of the few pork farmers still in operation in the state.

"I am excited about selling my pigs for so much, but these feed prices are eating into my profit,"Stephen said. "I am not real sure how much I am going to bring home."

With 580 pigs and over 30,000 chickens, Stpehen hopes to leave his farm to his kids. "I am no spring chicken, but I want to make sure I do not leave them something that could be more of a burden than a livelihood."

According to Agfax.com, hog prices will peak even more than February's record, which is US$154 a hog, wholesale.

Agfax also reports the highest hog prices on record will soon be arriving. These may be the highest hog prices for the next several years as well, especially if corn and soy shortages can be reduced somewhat this summer with favourable growing conditions.