27 Sep 2012

Pork prices set to rise

2:06 pm on 27 September 2012

New Zealand farmers can expect prices for pork and other products to rise over the next year, but this will be off-set by higher feed costs.

There has been a drop in corn and soybean production worldwide, due to a drought in the United States and a poor growing season in parts of Europe.

That will push up feed prices, and northern hemisphere pig farmers are expected to reduce their herd sizes to cope.

A global pork and bacon shortage and higher prices are predicted.

The chief executive of the New Zealand pork industry body says rising grain prices are keeping the pressure on farmers in this country also.