COLUMBUS, Ohio (CBS) — We think you should sit down for this– are you ready?
OK, well, there’s no easy way to say this, but, we might have a bacon problem. According to the Ohio Pork Council, demand for bacon is consistently superior to supply.
“Today’s pig farmers are setting historic records by producing more pigs than ever,” said Rich Deaton, Ohio Pork Council president. “Yet our reserves are still depleting.”
The problem is the frozen pork belly reserve, which is typically what bacon is derived from. In December, the inventory was at 17.8 million pounds. That sounds like a lot but it’s the lowest it’s been since 1957, per the U.S. Department of Agriculture.
It doesn’t take a business degree to deduct that when demand outweighs supply, prices surge. Those prices have increased 20 percent in January.
We’ll end this on a good note, though: bacon isn’t going to be gone from our lives.
“While bacon may become more expensive for consumers, rest assured the pork industry will not run out of supply,” Deaton said.