![]() ![]() Producers are glad to be making a little money again, he said, he and his family also see the effects at the local grocery store. Now, the figure is closer to $3, depending on the market. Morrisonville producer Dereke Dunkirk recalled taking part in a supermarket pork promotion at the height of the H1N1 scare that featured pork loin at less than $2 a pound. pork.Īs a result of the collapse in prices, the USDA made nearly $200 million in emergency purchases to help out struggling producers. Countries across Asia and Europe banned imports of U.S. Two summers ago, the pork industry was struggling with fallout from an outbreak of the H1N1 virus, which was dubbed “swine flu” early on, though there was no link to hogs. Hurt said producers also cut the size of herds following the sharp drop in pork and beef prices in 2008. Higher corn prices mean higher meat prices. “It’ll also be cereal and bakery products, anything that has corn or soybeans in it … fats, oils and sweeteners.”Ĭorn provides feed for hog and cattle producers. “Meats are certainly going to be a leader in the movement to the upside, pork and beef in particular,” said Hurt. farmers will plant and produce enough to meet demand that has risen along with the worldwide economic recovery. ![]() Hurt said the big unknown is whether U.S. Increasing commodity prices have begun to show up in retail costs from cereal to poultry, based on U.S. ![]() The price of corn and everything is getting higher and higher.” “We are just so tight on world inventories for all the major commodities, including food commodities,” said Hurt. Unlike in 2008, however, grain prices are up before the first seeds go into the ground, and fuel costs are rising well ahead of the spring-summer driving season. Steady increases in the costs of grain and energy since last fall are drawing comparisons to the summer of 2008, when corn and soybean prices set a record and gasoline topped $4 a gallon, said Purdue University farm economist Chris Hurt. Beef and pork prices are at record highs, but, if forecasts prove accurate, consumers have only just begun to see higher prices for food and fuel. ![]()
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