Pork consumption continues to disappoint

Apr 24, 2023

Despite some reprieve in feed costs, pork producers are currently losing $28 per head on open market hogs. Based on anticipated producer response to weaker returns and the farrowing intentions detailed in the latest USDA Hogs and Pigs report, RaboResearch analysts expect tighter hog supplies beginning late fourth quarter, into early 2024.

According to Rabobank's April North American Agribusiness Review, prices have dropped 20% from 2022 levels, with average weekly slaughter running above 2.4 million through March and year-to-date slaughter up 1.4% year-over-year.

"As the industry moves through the near-term bulge in heavy weight hog supplies indicated in the latest Hogs and Pigs report, we expect Q2 2023 slaughter levels to drop below year-ago, and prices to firm."

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Video: Food Inflation and Pork Demand - Dr. Sylvain Charlebois

In this episode of The Swine it Podcast Show Canada, Dr. Sylvain Charlebois, Professor and Director of the Agri-Food Analytics Lab at Dalhousie University, discusses how food inflation is reshaping Canadian protein demand. He explains why pork remains competitively priced, consumer behavior, and why transparency, AI-assisted shopping, and protein demand will matter in the years ahead. Listen now on all major platforms!

"The potential of pork is there. We just need to see the product assume that role and take it away because all the elements are there."

Meet the guest: Dr. Sylvain Charlebois is a Professor in Dalhousie University's Faculty of Management and Director of the Agri-Food Analytics Lab. His research focuses on food distribution, food policy, food safety, food security, and traceability. Dr. Charlebois has written four books and more than 500 peer-reviewed and scientific articles. He holds a BComm from the Royal Military College, an MBA from UQAM, and a DBA from the University of Sherbrooke. Learn more from Dr. Sylvain Charlebois on The Swine it Podcast Show Canada, available on all major platforms.