An increase in pork production appears to be on the way, according to the latest report from the U.S. Department of Agriculture’s Economic Research Service. Production is expected to increase by more than 5% in 2017 compared to 2016.
Hog prices are predicted to fall 15% due to continued ample availability. Low pork prices paired with increased production will likely increase U.S. pork exports 4% higher than shipments in 2016, up to approximately 5.4 billion lb.
Exports could be in a low however, due to the rapid 20% fall of the peso in early January. Currently, Mexico is shown to be the largest foreign importer of U.S. pork, poultry and dairy products.
For more information, vist the USDA ERS report.