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RETAIL PORK PRICES UP 61% OVER LAST YEAR, CHECKOFF EXPLAINS WHY
Jul. 6, 2021
Pork Checkoff reports:
Summer is heating up, and so are prices for pork grill-ready items. USDA-AMS recently quoted the price of baby back ribs over $5 per pound, 61% higher than a year ago and 94% higher than the same time in 2019.
The following insights were shared with retailers on why prices are rising to help them formulate plans and upcoming features:
• Strong demand meant cold storage surplus did not occur in Q1.
• Foodservice rebound is exceeding expectations, and they have limited stocks in freezers.
• Due to a widespread labor shortage, packers are increasing the price for items requiring additional labor.
Click to read more about what is causing the rise in grill-ready items in the latest Insight to Action e-newsletter here.
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