Consumer price forecast for poultry, pork raised by USDA
Strong demand for poultry key to projected consumer price increase
The U.S. Department of Agriculture raised its forecast for 2013 consumer prices for poultry and pork. Poultry consumer prices were projected for a 3.5 percent to 4.5 percent increase, while consumer pork prices were raised 0.5 percent to 1.5 percent, according to the USDA's September 25 Consumer Price Index report.
"Poultry demand continues to be very strong, even though supplies are healthy and there are no real issues with supply, the demand for poultry is very strong and the whole industry is still dealing with relatively high feed prices," Ricky Volpe, USDA economist, said in a recent agency broadcast.
Volpe said pork prices are recovering from low pork wholesale prices that hit earlier in 2013, prompting the raised consumer price projection.
No other proteins had an upward price projection in the report. Beef and veal, fish and seafood, and eggs remained steady in price, while dairy products were adjusted downward for up to a 1 percent decrease and other meats were forecast for up to a 0.5 percent decrease.