EU pig prices continue to decline
At €158.24 per 100kg, EU pig prices had generally weakened in the four week period ended 21 September, down by €6. Despite falling domestic quotes, the gap between EU and UK pig prices stood at €33 per 100kg.
At €158.24 per 100kg, EU pig prices had generally weakened in the four week period ended 21 September, down by €6. At the latest quotation, the average pig price across the EU was similar to the level at the start of the year but was around €17 below the high point of this year so far in early July. It was as much as €32 lower than in the same week last year, as prices have failed to reach the highs seen in the previous two summers. While pig prices globally have risen, this was not evident in the EU. The slowdown in European prices is a function of market imbalances, with rising supplies outstripping subdued demand, partly due to the Russian ban on EU pork imports. Despite falling domestic quotes, the gap between EU and UK pig prices stood at €33 per 100kg for the week ended 21 September.
Amongst the key markets, the decline in pig quotations in the last four weeks was sharpest in Spain and Portugal, where prices were down by €11 and €13 respectively. Germany had a large part to play in the declines of late, given its influence on the EU market, and prices there fell by €8 in the four weeks ended 21 September. In fact, German pig prices have fallen by €22 in the last three months. There were similar declines in the Netherlands, France and Poland where pig quotations also fell by around €8. In contrast, few markets recorded increases in their weekly average pig reference price, with Denmark being one of them; the Danish pig price rose by €2 during the same period.