Buoyancy in Pork Prices Thanks to Stock Shortage

by 5m Editor
12 January 2009, at 6:06am

AUSTRALIA - Pork prices are expected to remain strong for the next six to twelve months because of fewer domestic pigs.

According to ABC, Australian Pork Council CEO Andrew Spencer says it will take up to 12 months for producers to increase pig numbers.

He says pork prices are currently at record highs because of a combination of low grain prices, a low Australian dollar and a general shortage of pigs.

Mr Spencer says after Chinese new year there could be a slight drop in the price but otherwise demand should remain strong.

"There is still a shortage of pigs, demand hasn't really changed so I'm thinking that prices might be a bit more stable over the next six months to a year than they normally would be," he says.