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Sarnia

Pork Prices Rising Quickly As Production Starts To Ease

Hog prices have increased sharply on both sides of the border over the last week.

The December lean hog futures contract in the U.S. increased by nearly six dollars.

Ron Plain of the University of Missouri points out February was also up by $7.53 while April jumped $5.77.

He says with a hog slaughter back below 2.5 million, there's a chance the biggest weeks of the year may be behind us, although the week before Christmas is typically huge.

Agriculture and Agri-Food Canada's numbers also indicate pork production and volumes are starting to slow down here.

Prices to start last week have also crept to within six per cent of what they were in 2015.

Plain feels American consumer confidence is centered around President-elect Donald Trump's economic policies.

He says that's a good thing for moving the fall's massive meat production on to buyers.

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