The
federal agriculture department reports that Canadian pork exports increased by
5.9 per cent so far this year.
That’s
probably a reflection of three things: Canadian hog production is up by 2.7 per
cent, the Canadian dollar is trading lower against the U.S. currency, making
Canadian pork a relative bargain on world markets, and there is no longer
Country-of-Origin Labeling discrimination in the U.S. market.
But
exports to the U.S. are bucking record-high hog marketings there.
Last
week farms shipped a record-setting 2.55 million hogs to packers, and the fifth
weekly record in the last nine weeks.
Ron
Plain of the University of Missouri says retail pork prices are declining now
to the lowest since June, 2013.
He
notes November’s per pound average was the lowest since June 2013.
