Demand remains crucial to pork industry recovery
June 29, 2020 By Meghan Grebner Filed Under: 2020 Events, COVID-19, Human Interest, Livestock, News, Pork
Ag economists are in agreement that recovery to the overall US
economy will continue to play a significant role in the ability for the pork
industry to rebound.
But, University of Missouri livestock economist Scott Brown
says the slower than anticipated recovery to the overall economy is becoming
increasingly more worrisome. “As I think
about the report it’s a bad combination of more hogs than we would have anticipated
and frankly not that much adjustment in breeding inventory relative to what we
would have thought,” he says. “Now against what could be a softer demand
picture as we continue to go through the remainder of 2020.”
Iowa State University economist Lee Schulz says demand has been relatively strong so far. “But it’s really just what that recovery demand-pull will be out of it,” he says. “And looking at futures prices, I think looking further out there is a bit of optimism there.”
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