Global pork outlook: One step forward, two steps back

Pork producers around the globe should be watching out for a shift in protein consumption, lower feed availability and a rapid improvement in pork productivity for Q2 2023 and beyond. According to latest RaboResearch report, Global Pork Quarterly Q2 2023: Consumption in Focus as Pork Industry Plans for the Future, weaker economic growth is beginning to take a toll on pork consumption, not only in the United States, but overseas as well. “We see persistently high retail prices limiting consumption of all proteins. Consumers continue to conserve capital by shifting everyday purchases to lower-value protein options, switching channels, and moving to smaller pack sizes,” says Christine McCracken, senior analyst – Animal Protein at Rabobank and author of the report.