Global hog supply and demand issues were the topic of Friday’s AgriTalk After the Bell with Chip Flory. Flory talked with Christine McCracken, Executive Director, Animal Protein for RaboAgriFinance, who explained additional slaughter capacity in the U.S. should help the hog market continue the price recovery as packers compete for animals.
Globally, trade issues are the top priority for the hog industry to sort out, says McCracken. Regarding NAFTA, she explained Mexico and Canada combined account for about 40% of U.S. pork exports and losing those markets would cause severe economic hardship on producers. But, with momentum apparently growing towards a successful conclusion of the NAFTA renegotiations, hog prices are working up from early spring lows.
