Strong demand pushes lard price to record highs

The strong export and domestic demand has pushed lard prices to the current record highs of around 33 cents to 34 cents per pound. Domestic lard consumption for the first six months, in year 2004, increased 6 percent to 145.3 million pounds. Lard exports in year 2004 are up substantially on a percentage basis while edible tallow is down sharply. Compared to lard, US export of edible tallow for the first half of the year 2004, dropped 43 percent to 125 million pounds from 219.5 million pounds last year in year 2003.