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Pork Prices Likely to Rise

by 5m Editor
26 July 2012, at 6:55am

AUSTRALIA - The spike in grain prices, because of the US drought, is expected to push up the cost of raising pigs and chickens around the world.

That could lead the largest pig producer in the world, China, to reduce production and eventually force up pork prices, according to ABC.

But Australian Pork Limited's Andrew Spencer says the a lot of Australian pig producers will face a year of high grain prices, before they see any gains from a price rise in pork.

"All that depends on some pig farmers, because of the profitability of the industry, deciding to get out. Those guys will have the toughest time," he said.

"As with everything in the modern world, the most competitive person survives.

"Those who can hang the longest are there at the end to take advantage of the higher profitability and higher prices."