The world market continues to be important to the pork industry. Canada shipped over 2 million head of hogs into the U.S. during the first three quarters of 1996. This was nearly double as compared to the same 1995 period. This trend will continue as long as these conditions hold. While all pork exports were up by 22 percent, JAN-OCT 1996 period, Japan trade increased by 41 percent over the previous year.
International trade has the largest growth potential for our industry.
The 1997 meat supply should be plentiful for the U.S. consumer. Total red meat and poultry production is projected to increase by 3 percent for 1997, or an additional 2.5 billion pounds. This would be more than twice the increase for 1996. This could mean pressure on prices and increases in exports. This could also impact farm-level prices.