Whether you’re talking ribs, chops or pig pickin’s, pork is cheap just as the U.S. heads into the grilling apex of July 4th.
Wholesale prices are at the lowest for this time of year in a decade. That’s thanks to a huge expansion in the American hog herd, which just hit its highest mark since 1943. Meanwhile, the U.S.-China trade war has kept a lot of that meat at home. So it’s probably no surprise that consumption of pork in the U.S. is up about 4% so far in 2019.
Hog futures in June capped their biggest monthly loss in almost a year, and investors are fleeing the market amid the glut. And China has banned meat imports from Canada after finding forged health certificates. That could leave North America swamped with even more excess protein.
To read the rest of the story, please go to: Bloomberg
