US wholesale pork price predicted to rise 6%
In its monthly update, the USDA’s Economic Research Service (ERS), also predicted price increases for wholesale beef, of 1.2-2.5%, wholesale poultry up 2-3%, and farm level cattle up 5-6%.
Both pork and poultry saw increases of 3.7% during 2013, while prices for wholesale beef dropped 0.3%.
In the ERS’ update on the Consumer Price Index (CPI) for food, the figures revealed that the total ‘meat, poultry and fish’ category was forecast to see retail price growth in 2014 of 2.5-3.5%.
Beef and veal prices are predicted to rise by between 3-4%, pork up 2-3%, and poultry up 3-4%.
During 2013, pork saw the biggest increase, with prices up 4.5%, compared to beef and veal at 1.8% and poultry at 2.8%.
PPI measures the average change in prices paid to domestic producers for their output.
