NASHVILLE, TENN. (RFD NEWS) — New research from Rabobank says the global pork industry is taking a cautious approach to growth. This year, researchers say producers are refocusing on productivity and cost control.
Production is expected to rise in the first half of the year, led by modest gains in the United States, Europe, China, and Brazil, before slowing in the second half due to herd reductions, especially in China and Spain.
Trade remains volatile amid shifting import policies and disease pressures, including African Swine Fever and Porcine Reproductive and Respiratory Syndrome (PRRS), keeping expansion plans in check.
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Year-to-date red meat production is down 2 percent, with beef lower and pork higher.
For producers, demand is strong, but drought, disease, and costs still shape supply.
Butter has softened as milkfat supplies remain ample.
Jake Charleston with Specialty Risk Insurance says recent futures market moves are leaving cattle producers unsure about price trends.
Drought remains a major risk, with the ERS reporting that 98 percent of the U.S. cotton production area was affected by drought in early May.
Canadian industry leaders argue the tax policies cited by U.S. officials are similar to exemptions already used by American growers.
