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Pig out! Bacon shortage panic refuted

NEED TO KNOW
  • Pork futures trader says concerns are unfounded
  • Drought conditions forcing farmers to slaughter early

Bacon lovers had heart palpitations this morning after a shocking headline from Europe – that the world could be facing a bacon shortage! 

That’s after Britain’s National Pig Association said the drought in Europe slammed the major crops that pigs eat – corn and soy beans – and that many hog farmers had to send their animals to the slaughterhouse earlier than usual. That means extra bacon for a little while, but far less bacon and ham come New Year’s and into 2013. The trade group said it could mean 10% less bacon and pork, and subsequently higher prices. 

But does that mean Americans will have a shortage? A hog trader says, NO.

Our crack colleague at CNN Christine Romans talked to Chicago hog futures trader Scott Shellady this morning, who claimed that in the United States, “There is no pig shortage, there will be no bacon shortage.” We’ll see. But for now, there’s still plenty of bacon for your breakfast sandwich, or these days, in your bacon sundae and on your pork donuts.

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