Australian pork prices to remain strong

Pork prices in Australia are expected to remain strong for the next six to twelve months due to fewer domestic pigs.

Australian Pork Council chief executive officer Andrew Spencer said it will take up to 12 months for producers to increase pig numbers.

Spencer said pork prices are currently at record high because of a combination of low grain prices, a low Australian dollar and a general shortage of pigs.

He said that there could be a slight drop in prices after the Chinese New Year, but otherwise demand should remain strong.

He also said demand has not really changed even though there is a shortage of pigs, and expects to see prices remain stable over the next six months to a year.