Never before has a more intense understanding, and translation, of the world’s pork system infrastructure been more critical. The Americas are positioned for incredible growth, technology adoption, export dominance and quality, health and safety advancements.
Two internationally renowned speakers shared their perspectives and theories about the drivers that could change the competitive, international pork market going forward. From exports to pork quality and from health to profitability, Nathan Losey, grain and livestock analyst at AgResource Company, and Richard Herzfelder, senior consultant on the international meat industry for Gira Consulting and Research, weighed in on the major drivers in the industry today.
First up, Europe and Asia.
“The global pork sector is facing a sea of troubles in Europe and Asia,” Herzfelder said. “African swine fever, the COVID pandemic and the war in Ukraine have created a perfect storm of rising costs and threats to consumption. Pork will weather the difficulties, as it has before, but the years ahead will be challenging.”
He shared five watch points for the pork industry to note:
1. Overcapacity - lower pork consumption in China, Europe
2. Inflation - squeezing margins, processors looking for solutions
3. Labor - shortage across many other markets
4. Sustainability - multi-level, adds cost, needs solutions
5. Don’t lose perspective - many of these market factors have been seen before, long-term production and consumption trends are still in place.
Losey then transitioned to an update and outlook of the U.S. hog industry, looking at some of the macroeconomic influences of U.S. food and pork prices in the post-COVID-19 era, as well as an update on the current state of affairs for the U.S. pork industry. In addition, he shared a brief look at some major events developing in the beef and poultry markets that could have major implications for pork prices in the year ahead.
Finally, Herzfelder dug into the Latin American pork market.
“For the pork sector, the picture in Latin America is brighter. Both production and consumption have been rising as pork eats into the traditional beef market in countries like Brazil and Colombia,” Herzfelder said.
Watch the entire United Pork Americas online symposium here.
Sign up now for the in-person United Pork Americas event that will take place on Sept. 7-9, 2022, in Orlando, Fla. Register at www.UnitedPorkAmericas.com. Watch the symposium for a special discount code!
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