Future of Proposition 12 leaves pork sector in limbo
A protein analyst says US pork producers aren’t making any big moves until they know the outcome of California’s Proposition 12.
Christine McCracken with RaboResearch tells Brownfield a challenge to the proposition regarding swine housing will go before the Supreme Court in October, but in the meantime, uncertainty is growing.
“With limited visibility there, I think people have been holding off on making some of those big investments waiting to see how that might move forward.”
While there has been contraction in the hog herd, McCracken suggests continued hog market strength may lead to gradual expansion by the first quarter of 2023, but the decision on Proposition 12 could either help or hinder that growth.