Bacon Shortage On The Wayon September 25, 2012 at 2:08 pm
Due to the massive, yet still under-reported, drought in the mid-west, pig farmers found it was cheaper to slaughter their stock than to feed it. So the market is glutted now and it will take several months to catch up but prices will be going up.
Might want to get your fill of ham this year, because “a world shortage of pork and bacon next year is now unavoidable,” according to an industry trade group.
Blame the drought conditions that blazed through the corn and soybean crop this year. Less feed led to herds declining across the European Union “at a significant rate,” according to the National Pig Assn. in Britain.
And the trend “is being mirrored around the world,” according to a release (hat tip to the Financial Times).
In U.S. warehouses, pork supply soared to a record last month, rising 31% to 580.8 million pounds at the end of August from a year earlier, according to the U.S. Department of Agriculture.
I’m still waiting for the dramatic headlines screaming about “FOOD SHORTAGE!” that I’m expecting to come at the perfect time for corporations to maximize their profit from the panic.