How low will pork bellies go?
Down to 41 cents/lb from 93 cents 2 weeks ago.
We?re simply not eating enough bacon in quarantine
Here's the meat of the article:
"The answer, of course, is COVID-19. While the beef and egg industries are enjoying bumps from lockdown shopping, sales of pork belly—the cut where bacon comes from—have tanked. However, it’s not that the Great Bacon Boom has necessarily come to a halt. Rather, the way we buy and consume bacon has changed in recent years. According to market consultant Bob Brown, Americans aren’t buying the popular breakfast meat for home cooking as much anymore. Instead, bacon’s found its way onto every restaurant menu in America, from fast food burger chains to upscale eateries. So the pork belly plummet isn’t really about us suddenly not being into bacon mid-pandemic; it’s about mass restaurant closings, and thus big slashes to bulk food orders."