The latest United States Department of Agriculture (USDA) pork data in cold storage as of Dec. 1 was approximately 399 million pounds, a drop of 4.1% from a year ago and now at the lowest point since 2010. 

"The drop came before the spreading omicron virus variant prompted slaughterhouses to slow down in recent weeks as more workers called in sick, further limiting meat production and likely keeping prices for the meat high," Bloomberg explains. 

Slumping cold storage has sent USDA bacon prices per pound (as of late December) to around $7.21, a record high and up 39% since the beginning of the virus pandemic.