Your Reading List

U.S. pork stocks balloon as prices curb appetites

Reuters / High meat and gasoline prices have curbed consumers’ appetite for pork, which caused the meat to pile up in warehouses last month, analysts said March 22.

That February pork supply was up seven per cent from the previous month, and up nine per cent from a year ago, the data showed.

“This confirms U.S. demand has been sharply curtailed for pork for two months in a row amid concerns about high gas prices,” said Rich Nelson, director of market research with Allendale, Inc.

Gasoline prices topped $4 a gallon in many states and likely impacted consumers’ disposable incomes.

Pork stocks usually rise about 22 million pounds in February based on a five-year average, but this time they jumped 39 million lbs., said Nelson.

About the author

Comments

explore

Stories from our other publications