Rising Pork Costs In The US

Pork prices are continuing to rise due to inflation, increasing transportation costs, supply chain congestion, and increased labor costs. The cost of feed, fertilizer, and farm chemicals is also driving up the price of pork, as well as the increased cost to hire people to work in food processing centers. Prices are predicted to increase between 4% and 6% in 2022 and with higher fuel prices those percentages could increase upward. Even with the higher prices, consumer demand is still strong. As far as exports go, there is continued competition in markets such as Japan and South Korea because of higher U.S. prices and the dollar strength.