One of the biggest US pork and turkey producers is taking radical action against the effects of soaring feed prices. It is sending animals to slaughter with less meat on their bones rather than fattening them on the farm.
“We lose less money if we sell less pounds,” says John Prestage, senior vice-president at Prestage Farms. “These high feed prices are absolutely killing us.”
It is large grain consumers such as Prestage that will determine the direction of agricultural commodities markets in coming months. With much of the US corn and soyabean crop harvested after the worst drought in decades, and the South American season just starting, demand is driving grain prices.
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