Forget gasoline prices, you can walk to work.
But you can't Peameal your way through breakfast.
Prices are on the rise!
"Bacon is up 45% in pounds, for whatever reason there is a lot of demand there so there is a little bit of a challenge," said Chief Financial Officer Richard Galanti during an investor call.
For whatever reason?!
Has this man ever even had bacon?
According to Pork Business:
"Pork demand is really strong at retail and will likely strengthen through spring. There has also been some pipeline filling as foodservice operators are anticipating a rebound in sales as dining restrictions ease. The net result of all of this is a stronger market than most expected – which helps offset the pain of higher feed costs," McCracken says.
It's more than just demand, supply appears to be a problem as well.
There are several factors pushing pork prices higher, as reported by Farm Journal's Pork including herd losses for U.S. hogs tied to "porcine reproductive and respiratory syndrome (PRRS) here – especially in Minnesota and Iowa."
...a viral disease characterized by two overlapping clinical presentations, reproductive impairment or failure in breeding animals, and respiratory disease in pigs of any age.
Yet another virus threatening our way of life!
Operation Warp Speed is saving lives.
I say it's time we save breakfast!
Thank goodness we remain bacon independent and are a net exporter of pork, however prices are being affected by China's own struggles dealing with "African swine fever."
In the meantime, with costs surging and family budgets tight, people are going to have to start making sacrifices if they want to maintain their bacon habit.
What food would you be willing to give up?
