The impending global pork shortage first reported two weeks ago is now "unavoidable," according to a press release from Britain's National Pig Association.
Lack of rain across North America and Russia has wreaked havoc on crops — particularly corn and soybean, which is what pig farmers typically use to feed their livestock.
"New data shows the European Union pig herd is declining at a significant rate, and this is a trend that is being mirrored around the world," reads the trade group's statement. "Pig farmers have been plunged into loss by high pig-feed costs, caused by the global failure of maize and soya harvests."
The result: By the second half of 2013, the NPA estimates pig slaughter will be down "by as much as 10 percent," which in turn could lead to the doubling of pork prices across Europe.
The Chicago Tribunenotes that American warehouses saw record-high pork supplies in August due to herd trimming by farmers looking to save money on pig feed.