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Continued expansion likely in pork industry

Yesterday’s hogs and pigs report showed continued expansion in the pork industry. Kevin Bost is an analyst with Illinois-based Procurement Strategies.

“I think that the switch is turned on toward expansion by default until the profitability and the financing tells us otherwise,” says Bost.

Domestic consumption and exports of pork have been strong. Len Steiner of Steiner Consulting Group in New Hampshire says, with continued big supplies, those demand trends will need to continue.

“So, we’re going to consume more of it on a per capita basis, we’re going to export more of it, and if either of those don’t happen, you’ve got some problems on prices” says Steiner.

Bost and Steiner spoke during a post-report teleconference sponsored by the Pork Checkoff.

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