News

2014 could be good for pork producers

2014 could end up being the best year the US Pork industry has seen in nearly a decade.  Purdue Extension agricultural economist Chris Hurt says lower corn and soybean meal prices bodes well for continued expansion h in the pork industry in 2014.  “Soybean meal prices should move downward for most of the year as South American supplies come to the world market late this winter and into the spring,” he says.  “And then larger US soybean acreage continues to put downward pressure on soybean meal prices through the fall of 2014.”

Hurt’s expectations for the pork industry this year look positive.  “We anticipate a 1-2 percent increase in farrowing intentions this winter and spring and we also expect pigs per litter to be up 1.5 percent,” he says.  “That means pork production during the last half of 2014 will be up nearly 4 percent.”

Hurt expects the expansion is likely to continue into 2015.