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High dollar takes toll on pig markets

AUSTRALIA - Pork producers are hoping for a turnaround in prices soon, as their traditional 'low' period eases off. However, an increase in imports, a strong Australian dollar and high feed costs are all working against them.
calendar icon 12 July 2007
clock icon 1 minute read

Australian Pork Limited chief executive, Andrew Spencer, said an influx of imports was affecting local prices.

"Typically in a calendar year our lowest point is now, due to demand slowing down after Christmas and Easter, our peak demand times," he said.

"Our prices were quite good around Christmas but as a result of high prices and the fact processors couldn't get hold of enough pigs because supply was so tight, they put in big orders for imports.

"We're hoping that prices have bottomed out and will start to lift again.

"But one problem with that is that imports are looking pretty attractive at the moment due to the state of the Australian dollar."

Source: North Queensland Register