Bacon boom: Prices rising, Iowa farms thriving

IOWA CITY, Iowa - 1,500 hogs is a pretty good investment for Johnson County pork producer, Tom Wall. With little help, Wall farms 1,000 acres of land and raises the hogs at his rural family farm off Morse Street.

“The farm has been in the family since 1915,” said Wall with a proud smile on his face. Now more than ever though, Wall's hogs are one of his safest commodities.

According to Iowa State University livestock economist Shane Ellis, the current wholesale price of a 100-pound slab of pork belly is around $130. That's up from $110 last year, and about 1/3 higher than the average price of around $85 just a few years before that. “Bacon is the rising star of the pig,” said Ellis. “And all pork is selling higher than it was one year ago.”

But it's not time to panic in the grocery isle, yet. Ellis estimates the average price for a pound of bacon will only spike by a dollar or two. Some economists have predicted record highs reaching $6-7 dollars per retail pound, but Ellis believes those price tags will only land on very high end bacon.

Doug Havel, owner of Buds Custom Meats in Riverside, said he produces more than 150 pounds of bacon in a week. That's because there has been an increased demand for bacon on salads and burgers. Havel supplies bacon to the Riverside Casino only for use on their salads.

Both Havel and Johnson believe the days of just eating bacon in the morning or on an afternoon BLT are long over.

“It's become a condiment,” said Johnson.