2023 historically bad for pork producers

2023 will go down as one of the worst years on record for pork producers.

Christopher Pudenz with Iowa Farm Bureau says from a profitability standpoint, it rivaled 1998.

“Which is kind of the benchmark for how bad things can get.”

He tells Brownfield there’s uncertainty ahead.

“But it seems after a bit of improvement in margin estimates these last couple months, that futures are telling us and a little bit of modeling tells us we could be heading into a double dip here. There could be more red going on into this next calendar year.”

He says there is some contraction in the U.S. sow herd, but the total number of hogs and pigs continues to weigh on prices.

Brownfield interviewed Pudenz during the Iowa Farm Bureau Annual Meeting earlier this week in Des Moines.

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