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Q1 Retail Pork Prices Higher Than a Year Ago

by 5m Editor
18 May 2012, at 8:36am

US - In the first quarter of 2012, retail pork prices rose 6 per cent compared to the same period last year. Prices finished at $3.49 per pound, and is known to be the highest first quarter retail price on record.

Record retail prices were partly a reflection of first quarter US exports, which rose 15.8 per cent compared to a year ago. According to the USDA's Livestock, Dairy, Poultry and Aquaculture Outlook for May 2012, the strong exports constituted 23 per cent of first quarter commercial pork production.

In the second quarter of 2012, the USDA expects commercial pork production to rise 2.8 by per cent compared to the same period last year. Higher April-June pork production is calculated from year-over-year larger fall and winter pig crops and heavier estimated dressed weights.

A moderate increase in commercial pork production and pork exports is forecast for 2013. Next year, foreign demand for US pork products is also expected to play a pivotal role. Lower prices, along with continued global economic growth, is likely to support continued strong exports. Total US pork exports for 2013 are forecast at 5.4 billion pounds, about unchanged from this year.

Further Reading

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