The National Pork Board hosted a media teleconference this morning to address the current state of U.S. pork production, highlight current market trends, and define the impact these trends are having on America’s 60,000 pork producers.
Speaking on the call were Jan Archer, National Pork Board president, Len Steiner, Steiner Consulting Group, Patrick Fleming, Director, Market Intelligence and Innovation for National Pork Board, and Brett Stuart, Global AgriTrends. Their remarks were followed by a Q & A session with members of the media.
Archer addressed the market from the producers’ perspective, emphasizing the importance of the Pork Checkoff’s marketing outreach.
“Times like this really show how valuable the Pork Checkoff can be by pooling our funds together to accomplish those things we wouldn’t be able to do on our own,” she said.
Steiner addressed the overarching economic dynamics of the current market situation, discussing how the growing economy is generally good for meat demand, how low corn prices led to the increase in pork output, and the increasingly important role exports play in the market. He also discussed challenges like retail prices that remain constant despite decreasing wholesale prices and the fact that processing capacity has not kept pace with supply growth.
Fleming discussed domestic retail marketing trends and sales. He explained how pork sales are driven by flavor, versatility, and shared data covering retail and food service trends.
Stuart highlighted the international environment and current status of U.S. pork exports. He detailed the valuable role exports play for U.S. pork producers, as U.S. pork exports have accounted for 22% of total U.S. pork production over the last five years, and also highlighted how utilizing exports allows producers to receive the maximum value for their product regardless of the domestic market’s current state.
Listen to the full conference here:
Pork Production and Consumer Demand