Pork producers concerned about tariff threats

CBS News
Published:

Mexico's announcement that it's slapping tariffs on American agriculture products like pork could actually lead to lower prices at your grocery store but don’t go hog wild just yet.

10TV talked with Matt Bell, a 6th generation farmer north of Zanesville. He and the Ohio Pork Council are worried that tariffs by Mexico could hurt farmers’ bottom line and hit Ohio’s pork industry at a time when it’s on the upswing.

Bell also says the timing is bad right now because the pork futures market is usually at its highest between the months of May to August.

His company, Bell Farms Agriculture, and others have invested in raising more hogs by buying equipment, food and other necessities so now is a bad time for tariffs that would certainly tap the brakes on American pork exports.

If there's a flip side for you the consumer, pork products could temporarily cost you less at the store; if more supply isn’t exported to countries like Mexico (due to tariffs) that means the supply stays stateside and thus, produces lower prices to thin out inventory.

That certainly moves product off the shelves but doesn’t necessarily put more money in the pocket of America’s pork producers.

China has also threatened to slap tariffs on pork as well.