Global pork market shaped by recession, supply-demand imbalance, and uncertainties

According to the latest Rabobank quarterly pork report, global recession is affecting pork demand and increasing volatility. A small upside in trade is expected for this year, and the re-opening of China is raising opportunities but also uncertainties. The slowing economy is weighing on demand for pork, raising uncertainties and volatility in the industry. Despite being considered less impacted than more expensive proteins, pork is still facing some pressure on consumption due to challenged household incomes, increased savings and a potential decline in specific channels. According to the report, managing inflation remains a priority for many governments, requiring careful calibration of interest rates to maintain consumer and business confidence. A limited upside for trade in 2023 is expected as supply tightens in exporting countries and rises in importing countries. “Trade is expected to increase modestly in Q1 2023, but it may find growth difficult to sustain through the year, ...