Hormel to Raise Prices, Citing Costlier Pork, Beef and Nuts
August 28, 2025 | 1 min to read
Hormel Foods announced that it will increase prices due to rising costs for key ingredients like meat and nuts, which have impacted profitability. Notably, the price of pork bellies, essential for bacon, surged by 30% compared to last year, with wholesale pork overall rising 10%. Interim CEO Jeff Ettinger emphasized that the sudden and significant commodity market increases necessitated these targeted pricing actions.
Hormel Foods said its prices will go up, after rising costs for meat, nuts and other goods cut into its profit.
Take pork bellies: The company, which makes Spam, Jennie-O turkey and Planters nuts, said … that the cost of bellies used in bacon products have gone up 30% compared with last year. Wholesale pork in general was 10% higher.
“That run-up in commodity markets was both sudden, and it was major,” said Jeff Ettinger, Hormel’s interim chief executive, on a conference call Thursday. “To address commodity inflation, we are taking targeted pricing actions.”
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