Farmers Guardian's Alistair Driver writes that as herders cull livestock, bacon prices are set to spike.

The latest report from Britain's National Pig Association shows record-high feed costs are forcing ranchers to massively sell off their pig herds, he writes.

And fewer pigs today means higher prices in the future.

Bacon prices in the U.S. surged 12 percent in July to $4.365 per pound, according to the USDA.

Last month, the government announced a $100 million pork purchasing program in a bid to aid drought-stricken farmers.