Despite a less-than-ideal year for America’s crop farmers, the protein sector is showing positive signs.
A report from CoBank shows that the chicken, pork, and beef markets are all strong right now. Chicken leads the pack, with consumption expected to rise nearly two pounds this year. CoBank shows hog production margins are also improving, pushed by lower feed costs. However, expansion in that industry remains unlikely because of stubbornly high input costs.
Economists say global pork demand is still strong though, with the U.S. likely to overtake Europe on global pork exports this year.
