Bacon is about to get even more expensive as wholesale pork belly prices approach record highs on the back.
Bacon is about to get even more expensive as wholesale pork belly prices approach record highs.
Analysts who spoke to CNBC attributed the surge in pork prices partly to a recently imposed animal welfare regulation in California, which came into effect July 1.bans the sale of pork from farms that confine pregnant sows in tiny enclosures, and spaces that are less than 24-square-feet. Proposition 12 played a "major role" in the surge in prices, said Urner Barry pork market analyst, Ryan Hojnowski.
According to data provided by commodity firm Urner Barry, skinless bellies weighing 11-13 pounds — one of the categories of pork sold — surged 157% from the week of June 5 through the week of July 31. Prices jumped from 99 cents per pound to 255.2 cents per pound on a wholesale basis during that period.is higher demand for bacon during this time of the year, coincided with lower pork production.
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