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Smithfield Foods acts to calm “bacon shortage” concern
Story Date: 10/1/2012
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Source: Rita Jane Gabbett, MEATINGPLACE, 10/1/12
Smithfield Foods issued a news release on Saturday to assure customers there will be plenty of bacon to eat despite reduced pork supplies expected for next year.
Smithfield was addressing a media contagion that started with a U.K. National Pig Association statement on Sept. 20 that warned, “A world shortage of pork and bacon next year is now unavoidable.” NPA went on to predict British pig slaughter could fall by as much as 10 percent in the second half of next year, which indicates a doubling of the price of European pork and pork products.
“Contrary to recent media reports, there is no bacon shortage, at least not at Smithfield Foods, Inc.,” the company said in a news release. “Regardless of global economic drivers, our customers will continue to have access to the Smithfield Foods products they love, including our Smithfield, Farmland, Gwaltney and John Morrell bacon brands.”
The company predicted a lower supply of pork in 2013 and also used the opportunity to restate its aversion to current U.S. ethanol policy.
“While the current U.S. supply of pork is adequate, strong global demand for pork could put additional pressure on domestic supply. Meanwhile, the high grain prices that were caused by the summer's drought and the continuing ethanol policy will continue to be a financial hardship for domestic hog farmers and likely will cause many of them to cut production,” Smithfield warned.
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