WEST LAFAYETTE, Ind. (WLFI) – Shoppers can expect pork prices to increase to record highs this summer.
Pork prices are already up 10 percent compared to last year due to low production.
A virus outbreak in piglets cut pork production by eight percent last winter. While the virus hasn’t spread as much during the summer, numbers are still down five percent.
Purdue Economist Chris Hurt said the lower production has led to record high profits for hog farmers. Hurt said the profits have made up for many of the losses and could lead to expansion in hog production.
“There is some anticipation as the government surveyed producers. Producers said that they’d increase number of mothers that have babies this fall by four percent,” said Hurt.
Prices are expected to stay at record highs until the fall.
Hurt said if there is an expansion, pork supplies could see increases by spring of 2015.