Rabobank Group says the Porcine Epidemic Diarrhea virus contagion sweeping through the U.S. hog-farming industry is going to be worse than anticipated.
It’s predicting a seven per cent decline in hog supplies this year and says that next year production will fall 12.5 per cent below last year’s production volume.
Rabobank says the virus has moved into 60 per cent of the U.S. breeding herd, 28 per cent of the Mexican herd and is moving into Canada.
North American hog production may decline by nearly 18.5 million pigs this year and next, says Rabobank.
This year’s decline will be the sharpest decline in three decades, says the international banker for agriculture.
The latest estimates from the U.S. are that five million piglets have been claimed by the virus since the first outbreak 11 months ago.