Consumer demand for pork is projected to rise this year.

Participants: Gary Crawford and USDA Outlook Chairman Mark Jekanowski

Transcript

Analysts who follow the pork industry are starting to see...

Signs of strengthening demand for pork.

USDA Outlook Board Chairman Mark Czechanowski, the main sign, of course, rising hog prices.

Prices have been showing some strength, especially recently, and we raised our average price forecast for hogs by a dollar per hundredweight.

Now at $60.75 per hundredweight, that's up just over $2 a hundredweight year over year.

Based on expectations that...

Demand is going to continue to strengthen for pork into the second and third quarters of this year, pulling those prices higher.

Hog prices could average about 3.5 percent higher than last year.

Pork production expected up about 2 percent.

Gary Crawford for the U.S. Department of Agriculture.