Report Suggests Pork Supplies Will Increase Faster Than Expected
A new report suggests there may be more bacon on breakfast tables across the nation.
Purdue University Agricultural Economist Dr. Chris Hurt says pork production is higher than expected following a pig virus many feared would take a heavy toll on baby pigs.
However, Hurt says more pigs than expected survived this summer and inventory is higher than anticipated.
He says that means supply will be greater this winter and prices will be more moderate.
"Pork producers are going to be expanding production by the spring of 2015, and that's where we should start to see more moderation in grocery store prices," says Hurt. "That's going to continue for all of 2015 and, we think, into 2016."
Hurt says pork producers are seeing higher pork prices, lower feed prices and farmers are seeing a bounty of corn and soybean crops, all of which are fueling expansion plans.
He expects pork supplies next summer to up by five percent.
Hurt says the virus hasn‘t yet been controlled, but they know more about it and two vaccines are on the horizon.
Right after corn and soybeans, Hurt says pigs are the state‘s third largest crop and Indiana is the nation‘s fifth largest pork producer.