Pork Commentary: World Pork Expo01 June 2016
US - Next week is the World Pork Expo, the annual Premier Swine event in North America. It’s a time and place where producers and industry people can meet and socialise. It’s a time and place to celebrate our industry, an industry that supplies 44% of the World’s Meat and Protein consumption. It’s a time and place to see new products and learn of the changes in our business, writes Jim Long President-CEO Genesus Inc.
We have been going to the World Pork Expo since its first Exposition. Since then we have seen the consolidation of our industry. The rise of the huge production companies. The evolution from many hogs outside to an all inside industry. We have seen the number of exhibitors decline as there is fewer suppliers to supply ever fewer producers. With 25 producers supplying 70-75% of the U.S hog base it doesn’t take an ag-economist to figure that fewer suppliers are needed.
We remember when there used to be over 40 exhibitors selling swine breeding stock at the World Pork Expo. Now there is at the most six real genetic companies left in the world. Ones with genomics, geneticists, high health nucleus units and a global market presence and supply. They are PIC, Choice, Hypor, Topigs-Norsvin, Danbred and Genesus. We never thought we would see Genetic consolidation as fast as we have but the producers need to utilise only the best technologies to fill demand, lower costs and increase productivity.
This year we will be at the Genesus Tent EV530 – same place as last year. Visit us, have a beverage, have some food, have a good time. We all need to celebrate our swine industry.
Better Pork Eating Quality
Last week we wrote of our visit to the Certified Angus Beef group in Wooster, Ohio. Their success and passion in developing a premium beef brand. It was interesting the feedback we got. The Angus people told us the demand for their product was triggered when food service and retailers pushed packers to deliver a consistent premium product. Our own feedback last week came from food service and retailers who told us there is no premium consistent product that they count on to deliver centre of the plate dominance in restaurants. Retailers who said there is no fresh pork product that consistently delivers meat eating quality.
Opportunity, obviously, can it be pulled together. We think so but first the product must have consistent eating qualities to create a real brand, not one that is based on a story of true eating quality. We believe pork profits are captured by just not supply and lower costs but real demand. As an industry if we could have demand driven by better tasting pork we could increase consumption and price relative to supply. If we could get every consumer in the United States to each eat one meal more per month of Pork, we could increase pork consumption by about 10%. 8 million hogs equivalent per year. Better Taste, Better Flavour, More Consumption, More Demand, More Profits.
We believe the Product of Better Tasting Pork is here. Genesus for eighteen years has been developing pork for eating qualities combined with a cost of production more than competitive with all genetics. We were ahead of the market. We spent millions of dollars evolving the genetics to deliver the right product. For years we saw no interest or return. The market wasn’t ready. We wondered at times if we were nuts spending money to develop a product that no one cared about.
The market was lean, pietrains, synthetics, pork with no marbling, no water holding capacity, no taste, and no flavour. We chugged on stubborn in our belief that someday the market would be there. Stubborn and committed (sometimes wondered if we should be committed). That day is here.
All over the world, Asia, Europe and Americas we are seeing the demand for better pork and Genesus is the vehicle to get it done. Lead, follow or go broke. We went all in. We are excited what better tasting pork will do for demand and & increased pork consumption. 44% of the world’s meat market is Pork. We need to grow it.
See you at the World Pork Expo – Genesus Tent EV530.
|Author: Jim Long, President & CEO, Genesus Genetics|
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