Consumer demand in the U.S. has been a key driver of strong pork and hog prices, but will it remain that way in 2023?
Although 2023 is off to a solid start, Steve Meyer, an economist with Partners for Production Agriculture, pointed out that demand is difficult to predict during a session at the Ohio Pork Congress. To top that off, production costs have entered a new era and likely are not going back, African swine fever continues to be a risk when it is so close to the U.S., breeding intentions are flat and operational packing capacity is still a challenge, he said.
Proposition 12 remains a factor, too, as the industry awaits a decision from SCOTUS.
“Regardless of what happens with Prop 12, some customers will demand it. I think we will deal with in in the marketplace even if we don’t have to deal with it in the legal issues,” Meyer said.
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