'Lowest Bacon Inventory In 50 Years': Colorado Bacon Expert

DENVER (CBS4)- Bacon lovers may have a problem. The bacon industry is facing a 50-year low in supply as demand for the sizzling smoky meat continues to grow.

"We do have the lowest bacon inventory that we've had in 50 years, that is true," said Joyce Kelly, Executive Director for the Colorado Pork Producers Council.

The good news is that production will increase as demand grows.

"We're actually expecting to have a five percent increase in bacon inventories for the year of 2017 and it's going to go up," said Kelly.

The problem is the frozen pork belly reserve, which is typically what bacon is derived from. In December, the inventory was at 17.8 million pounds. That sounds like a lot but it's the lowest it's been since 1957, per the U.S. Department of Agriculture.

It doesn't take a business degree to deduct that when demand outweighs supply, prices surge, and those prices increased 20 percent last month.

"For the first time really in modern history, we've seen a demand for bacon all over the world like it's never been seen. People are catching on that pork belly and bacon is a great thing," said Kelly.

Part of the appeal is bacon's versatility.

"Bacon is a little bit pricier compared to other cost per pound for other cuts of pork, but it's still one of the most economical things that you can buy for your family. Even your kids will eat their vegetables if you put a little bacon in them," said Kelly.