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Swine virus outbreaks in Mexico make US meat more expensive

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(Bloomberg Opinion) — The United States is sending record amounts of pork to Mexico because of two swine diseases that are depleting the Latin American country’s pork population, likely driving up pork prices further in the country. USA

American pork is being sold to Mexico at a breakneck pace. In the most recent week, the country was the main buyer of this product, US government data showed. Sales are drawing attention as strong red meat exports from the US have underpinned the rise. consumer prices and have contributed to the highest headline inflation in four decades.

Outbreaks of the deadly porcine epidemic diarrhea (PED) and porcine reproductive and respiratory syndrome (PRRS) viruses have been killing pigs in Mexico, according to Christine McCracken, protein analyst at Rabobank. . At the same time, breeders are likely downsized to their cattle because their feed is becoming too expensive. The Russian invasion of Ukraine has caused grain prices to skyrocket.

Mexico’s lower supply of animal protein “is part of its need to import more,” McCracken said.

At the end of February, the average price of pork chops in US grocery stores was $4.03 a pound, according to data from the Bureau of Labor Statistics. This is the highest level for that time of year in at least 30 years.

Meanwhile, lean hog futures in Chicago neared an eight-year high amid tight stocks of the animal. The US Department of Agriculture will release its quarterly hog inventory report on March 30.

original note:

Swine Virus Outbreaks in Mexico Mean More Expensive US Meat: Supply Lines

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