A Purdue extension farm economist says pork producers can expect to make more money in the coming year.
Chris Hurt says hog farmers have not increased their herd sizes substantially due to uncertainty over feed prices. But increased corn inventories are lowering feed prices.
And pork production is expected to go up as sows deliver more pigs. Hurt said pork production for the coming year will be up 2 percent to 3 percent, led by higher sow productivity and market weights and lower feed prices.
Meanwhile, demand for pork is expected to increase due in part to low levels of beef available in the domestic market.
Strong demand is expected to lead to higher hog prices, and with lower feed costs, Hurt says that means more profits for farmers.