Friday, October 12, 2012

Rabobank predicts higher hog prices

Rabobank predicts that global hog prices will begin to recover before Christmas.

Prices dropped 16.2 per cent in the United States this fall compared with a seasonal average decline of nine per cent. Herd liquidation is cited as the reason for the steep price decline; farmers culled herds they could not afford to feed.

The price declines have been even greater in China and Brazil, says the European-based bank.
The declines have been less in Canada and Europe than in the U.S.

Rabobank is in line with all hog-market analysts in predicting that prices will continue to rise in the new year.

My wife, who just returned from grocery shopping, says pork chop prices remain too high here. It seems the big chains are unconscionable in stifling demand to line their pockets.