KANSAS CITY – The cost of a holiday ham in the U.S. is expected to surge this year as fewer hogs come to market and export demand strengthens.
Wholesale ham prices have nearly doubled from a year ago, and one analyst expects average prices during the fourth quarter to approach a 15-year high. Driving prices up are strong export demand, reduced hog supplies and expectations for a bump in U.S. supermarket sales as the economy recovers. A squeeze in the supply of frozen hams could provide an additional boost to prices as processor buying picks up ahead of the Thanksgiving and Christmas rush.
As of Thursday, the U.S. Department of Agriculture reported the price of a 23- pound to 27-pound ham at $85 per hundred pounds. That is up 77% from a year ago. Independent analyst Bob Brown, in a recent forecast, projects the average fourth-quarter price will be near its highest level in 15 years.
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