Both hog production costs and the market price for pork are at historic highs right now. But with a variety of unknowns looming on the horizon, it is hard for analysts to predict future trends.
“This is a demand-driven market. It has been remarkably strong,” said Steve Meyer, an economist with Partners for Production Agriculture. “I don't remember it ever being this strong in my career.”
Meyer offered an outlook on the challenges ahead over the rest of 2021 and into 2022 last week during the World Pork Expo.
He expects pork prices to continue their upward climb in the short term. The July pork cutout price crossed the $130 mark last week while August lean hog...