Rabobank predicts weakening global demand for pork which is reducing prices and squeezing farmers’ margins so they may reconsider production plans for next year.
Rabobank’s October Global Pork Quarterly Q4 2026 report warned that disappointing third-quarter markets in North America, Europe and China had increased pressure on producers despite relatively modest expectations for supply growth.
In the United States, pork cutout values were running 25 per cent below year-ago levels, driven partly by declining demand for bellies and hams. Belly prices had declined by 39 per cent year over year to their lowest seasonal levels since 2017, while ham prices were down by 19 per cent.
Rabobank attributed the weakness to reduced foodservice demand, limited retail promotions and consumers facing continued inflationary pressures. Shifting dietary preferences also contributed to slower demand for processed meat products.