Eyes and ears everywhere 👀👂

🐷 As weaker economic growth is beginning to take a toll on pork consumption, both in the US and overseas, pork producers around the globe should watch out for a shift in protein consumption, lower feed availability, and a rapid improvement in pork productivity in the second quarter of 2023 – and beyond. 

🇺🇲🌐 In the US, consumers carry on saving money by giving preference to lower-value protein options, switching channels, and moving to smaller pack sizes. As for the rest of the world, here's what to expect (the full details are here):

     • Mexico: the increase in production reflects herd health stabilization; 

     • Canada: decreased weights impacted pork production, along with cuts by Olymel, for example; 

     • China: price weakness lingers due to ASF-induced liquidation and weak demand; 

     • Japan: demand will be weaker in Q2 due to elevated prices and inventories; 

     • Southeast Asia: the Philippines and Vietnam will continue to be impacted by ASF; 

     • Europe: a tight supply and historically high prices will continue to be a problem; 

     • Brazil: producer margins have progressed with export recovery and a reduction in feed prices.