Worldwide bacon shortage projection too extreme?

(WTVR) – Remember the “bacon shortage prediction” that made headlines last week?

U.S. Agricultural economists say a worldwide shortage of the breakfast meat expected to hit next year is a bunch of bologna, and The American Farm Bureau Federation agrees.

According to the federation, this year’s drought will impact the price of grains fed to pigs , meaning we could see bacon and other pork products increase here in the U.S. by as much as ten percent.

But the federation says use of the word “shortage” is a bit overblown.

As of Friday, the USDA says, as of Friday, the average cost for a pound of bacon is about $4.05.

Prices jumped 200 percent in 2010, due to production losses.