Bacon shortage ‘baloney,’ but prices to rise
ST. LOUIS – Bacon lovers can relax. They’ll find all they want on supermarket shelves in the coming months, although their pocketbooks may take a hit.
The economics of the current drought are likely to nose up prices for bacon and other pork products next year, by as much as 10 percent. But U.S. agricultural economists are dismissing reports of a global bacon shortage that lent sizzle to headlines and Twitter feeds last week. Simply put, the talk of scarcity is hogwash.
“Use of the word ‘shortage’ caused visions of [1970s-style] gasoline lines in a lot of people’s heads, and that’s not the case,” said Steve Meyer, president of Iowa-based Paragon Economics and a consultant to the National Pork Producers Council and National Pork Board.
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