Updates On The State Of The Pork Industry
According to the latest hogs and pig report, hog inventories jumped 5 percent to 79.6 million from last year. Hogs kept for breeding dropped 1 percent to 6.33 million form 2019. While market inventory rose 6 percent to 73.3 million from the year before.
U.S. pork processing rebounds as some of the labor force returned; in April, processing capacity fell 50 percent while daily production sharply fell to 60 million pounds. Since May, production is on the rise, averaging 86 million pounds. The USDA predicts 2020’s production forecast will be at 27.8 billion pounds, 1 percent above 2019.
The USDA bears the blame for a pork line speed safety controversy, a report released by the Inspector General states that the agency did not take adequate steps to make sure the data they used would protect worker safety. The report says that the USDA failed to share its data source.