Pig farmers all over the world warn that a bacon shortage is really possible next year. The sky-high prices charged for bacon and other farm products represent a direct consequence of the bad weather conditions registered in 2012, according to Reuters.
Extreme weather conditions have given a hard time to all farmers this year and this could affect the evolution of the prices in 2013. A recent report released by an association of pig farmers in the United Kingdom states that the production of corn and soy crops was at its lowest this year due to the cold temperatures that were registered in the summer. As a result, pig-feed has become unaffordable and farmers were constrained to reduce the size of their herds.
The British National Pig Association warns that a world shortage of bacon and pork is really possible next year, considering that farmers all over the world have confronted themselves with the same unfriendly weather conditions. The recent reports published in the European Union and the United States of America shows that the number of hogs has significantly decreased in the past years, culminating with 2012. Based on the estimated values, there will be 10 percent fewer pigs slaughtered in the second part of 2013 and this will lead to increased prices for pork products.
Steve Meyer, a consulting economist for the National Pork Board and the National Pork Producers Council, has a more optimistic perspective. He declared that people will still be able to find bacon and farm products. However, the prices will be a lot bigger than we expect them to be, at least in 2013 because pork products already registered an 8.5 rise in 2010 and a 1.0 to 2.0 rise in 2012. The U.S. Department of Agriculture forecasts an increase of 2.5 to 3.5 percent in the following year.
Meyer further stated that the demand will drop once farm products will become unaffordable. He reckons consumers will not only cut back on pork, but also on other animal proteins, such as, beef, chicken, turkey and even eggs.