Login to Read
Rising pork and beef costs will continue to contribute to U.S. food inflation, which according to the U.S. Department of Agriculture will rise 3% to 4% in 2011, the most since 2008.
Pork prices may now rise 7.5%, increased 1% from March estimates. Beef estimates have been increased 2.5% from March, to 8%.
“I suspect when December arrives we will see increases of 4% to 6%” for the year in overall prices, said Bill Lapp, the president of agriculture-research company Advanced Economic Solutions. “The pressure on food prices is clearly on the upside." According to the Bureau of Labor Statistics, food costs rose 0.7% in March, capping a 2% gain for the first quarter of 2011.
Hog futures increased 25% for the year as of April 21, on rising export demand, while cattle futures were up 6.3%.
Growth can be achieved during times of weak consumer demand
Henningsen Cold Storage provides multi-temperature warehousing and logistics services
Willardsen to be replaced by president of Cargill Salt
Government is offering subsidies to boost domestic pork production to 53.6 million metric tons by 2015.
Company says picture is already improving for next quarter
Pig prices are expected to remain high and may increase as the year progresses.
--- Thank you for your patience ----
If you have any issues logging in or any other need feel free to contact us.