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Unusual factors influencing pork prices

An ag economist says there have been some unusual circumstances that are affecting pork prices this year.

Paragon Economics president and CEO Steve Meyer says the backlog in pork products from the West Coast port shutdown is one of them.  “We export about 23 percent of our pork and about half of it goes out of those Pacific ports,” he says.  “If you back up just a little piece of that, then that product has to find a home on the domestic market and it put pretty severe downward pressure.  Especially when you have total production up as much as we have seen since January 1.”

But, he tells Brownfield the weather has also been a factor.  “We need to get out of this horrible winter in the Northeast,” he says.  “That’s another factor that has hit us.  Every week we have 2 to 3 days that people don’t go to the grocery store and that’s lost business.”

Heading into spring, Meyer says he anticipates those factors getting better.