Pricey Beef Has Hog Farmers Betting Consumers Will Eat More Pork [BNN Bloomberg (Canada)]
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Tyson Foods, Inc. (TSN)
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Source: BNN Bloomberg
The smallest US cattle herd since the 1950s is making beef too expensive for shoppers who have seen prices climb month after month and mostly exhausted savings from the pandemic. With a lot of pork to go around, producers are now banking on consumers ordering more sausage and pepperoni pizzas and on rising demand during the grilling season, with the July 4th holiday approaching. Pork producers have been under pressure as meat demand hasn't kept pace with supplies and higher crop prices made it more expensive to feed herds. Still, attendees at the World Pork Expo in Des Moines, Iowa, last week expect the industry's fortunes to start turning, with more demand giving them the bump needed to further improve margins. “I would ask that every American go out and buy as many pork chops as they can and share with their neighbors,” said Bryan Humphreys, chief executive officer of the National Pork Producers Council, a trade group representing hog farmers. At the trade show, meat packers
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