The National Pork Board is keeping a very close eye on what consumers are shopping for at the grocery store now that some of the panic of covid-19 has passed.
According to data released on Friday, pork sales at retail stores were strong March 9 through April 5 as consumers prepared more meals at home due to limited foodservice accessibility and offerings.
- Total meat sales are up 38% compared to a year ago; fresh pork sales are up 49%.
- Pork has increased market share vs. competing proteins.
- Sales of smoked ham/pork are up 245%.
- Sausage and bacon sales increased 47% from last year.
Technomic projects the near shutdown of foodservice reduced consumer spending on dining out in March by as much as 60%. Two-thirds of bacon typically goes to foodservice. Although bacon sales in retail are up, re-packaging and distribution is a challenge.
However, in the same update, National Pork Board officials point out that covid-19 has also forced the closing of major pork processing plants across the United States, including Wisconsin. That means farmers do not have access to markets for animals ready to be sold. Local butchers report that they are also backed up with customers that want to process animals.
According to an economic analysis by Iowa State University economist Dermot Hayes and Kerns & Associates economist Steve Meyer, hog farmers will lose nearly $37 per hog marketed through the rest of the year, or almost $5 billion collectively, because of COVID-19.
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