Thursday, July 4, 2024

Pork demand is weakening


 

After turning in stellar performance last year, the Canadian pork market has been slowing down this year, reports market analyst Kevin Grier.


Last year pork consumption surged by 14 per cent to almost 23 kilograms per person, the most since 2015.


Demand increased by 10 per cent which is more than any year since 1984.


Supermarkets featured pork because beef and chicken prices increased. Pork prices only went up by one per cent last year.


Imports increased by 13 per cent, exports declined by six er cent.


So far this year, per capita consumption has declined, but prices remain steady. 


Grier advises pork packers to keep a close watch on production, exports and consumer demand.