The droughts of 2012 have led to higher prices in raw commodities, as TheBlaze reported earlier this year, and now some are saying this will lead to an "unavoidable" global bacon shortage.
Bacon, folks. Bacon.
"Economically, it’s not a good time," Tim Maiers of the Illinois Pork Producers Association, the fourth largest of its kind in the U.S., tells CBS Illinois.
An increase in the cost of raw commodities has led to increased costs in maintaining herds. As a result, farmers in both the U.S. and Europe have been forced to downsize the size of their herds and cut back on production. This has led to Britain's National Pig Association, "the voice of the British pig industry," to issue a statement claiming a shortage of bacon worldwide "is now unavoidable,” CBS News reports.
But ... not the bacon!
The British trade group reported last week that production for Europe's main pig producers declined between 2011 and 2012, a trend that "is being mirrored around the world." And you know what the group blames this on? You guessed it: an increase in feed costs.
Likewise, the U.S. Department of Agriculture in August claimed that a reduction in pork for 2013 can be blamed on -- you guessed it -- the Midwest drought. As feed prices continue to rise, we can expect hog producers to cut back on production in order to control costs.
"Considering those factors, the USDA forecasted next year's pork production at 23 billion pounds, a decrease of about 1.3 percent from this year's estimated total. That breaks down to Americans consuming slightly more than 45 pounds of pork per capita in 2013, a reduction of more than 1 percent from this year's estimates," CBS News reports.
"The decline in production could be worse in Europe. On Wednesday, British Pig Executive Mick Sloyan told European retailers that pork losses could be as high 10 percent in the latter half of 2013, which could double pork prices, according to the U.K. pig association," the report adds.
If ever there were a time to get serious about global events, now is that time. But you know, there's still plenty of bacon over at BaconFreak in The Marketplace by The Blaze:
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