A court ruling will hurt pig farmers and raise pork prices; a new five-year plan for Iowa bridges and roads; drought spreads across Iowa as does inflation. Click to hear hour two of Need To Know With Jeff Angelo for Thursday, June 10, 2021.
Pork Prices to Rise and Fall
Monday May 24th, 2021
Hog prices are expected to rise slightly this year but only temporarily according to numbers out from the USDA.
The Agriculture Department said the average price will be $1.50 per hundredweight higher than what its economists were projecting in early spring.
“Hog prices are high and we expect that to encourage more production into 2022.”
USDA Outlook Chairman Mark Jekanowski told the department’s news agency that right now projections have national production at 28.2 billion pounds with an additional 320 million expected next year. And he says prices are expected to recede about 17% next year from this year’s average $16.18 per hundredweight.
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