ST. LOUIS (October 1, 2012)--The economics of the current drought are likely to push up prices for bacon and other pork products next year by as much as 10 percent, but U.S. agricultural economists dismiss the reports of a global bacon shortage that dominated headlines and Twitter feeds last week.
The reports were spurred by a European trade group's report that said a bacon shortage was "unavoidable" and cited a sharp decline in the continent's pig herd and drought-inflated feed costs.
The American Farm Bureau Federation responded quickly, calling the reports of a shortage “baloney.”
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