Cheap Pork Means More Ribs on U.S. Grills
- Hog herd was biggest ever before cookout peak on Memorial Day
- Hedge funds are most bearish on hog prices since April 2013
Photographer: Daniel Acker/Bloomberg
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Alongside their traditional burgers and hot dogs, Americans may be grilling a lot of cheap pork ribs on Memorial Day, when more meat is barbecued than at any other time of year.
An avalanche of pork is overwhelming domestic consumption, with a record-sized U.S. hog herd for this time of year. Prices have taken a hit, and hedge funds are the most bearish on the market outlook since 2013. There’s about 2 percent more supply of the meat than a year ago, and the only way to get customers to eat more is if it’s less expensive.