Tuesday, December 20, 2016

Pork exports up by 5.9 per cent

The federal agriculture department reports that Canadian pork exports increased by 5.9 per cent so far this year.

That’s probably a reflection of three things: Canadian hog production is up by 2.7 per cent, the Canadian dollar is trading lower against the U.S. currency, making Canadian pork a relative bargain on world markets, and there is no longer Country-of-Origin Labeling discrimination in the U.S. market.

But exports to the U.S. are bucking record-high hog marketings there.

Last week farms shipped a record-setting 2.55 million hogs to packers, and the fifth weekly record in the last nine weeks.

Ron Plain of the University of Missouri says retail pork prices are declining now to the lowest since June, 2013.

He notes November’s per pound average was the lowest since June 2013.

Agriculture and Agri-food Canada reports that Ontario pork prices almost on par with a year ago.