According to the latest Rabobank quarterly pork report, with inflation outpacing wage growth, lower real wages are expected to negatively impact protein consumption in the last quarter of 2022 and in the first half of 2023.
After disappointing harvests in the US, parts of Europe, and Asia, grain and oilseed inventories are near record lows and prices at historical highs. The acreage of corn and soybeans being planted in the Southern Hemisphere could help ease, but not eliminate, the strain in 2023.
Rabobank expects global pork production to fall 2% in 2022 and to see almost no material growth in 2023, with production in key growing regions significantly lower. Historically high global production costs are limiting herd expansion in most regions. With few prospects for cost relief and limited visibility around the strength of consumer demand given the challenging economic environment in 2023, producers have scaled back plans to add to their herds.
PigUA.info by materials pig333.com