EU prices up but still low
Having fallen during early May, EU pig prices began to recover later in the month and into early June.
By week ended 21 June, the average price had risen to €149 per 100kg, its highest level since last September. This was due to better weather in Northern Europe encouraging sales of grilling cuts, along with some short-term tightening of supplies.
However, the market remains finely balanced and the return of more unsettled weather or a modest increase in supplies could put downward pressure on prices. Despite the recent price increases, the average remains more than €20 down on a year earlier and the summer peak looks set to be significantly lower than in recent years. The recent gains mean that the gap between UK and EU prices has fallen to 24p/kg, the smallest difference since September 2014.
The latest four weeks saw prices rise by between €6 and €9 per 100kg in most major producing Member States. For example, German prices were up €6, although they fell back slightly in the latest week, while Spanish prices rose by €8. Dutch prices rose even more rapidly, with an increase of nearly €11 per 100kg during the four weeks. One exception to the rising trend was Denmark, where prices were more stable, only increasing in the final week of the period having fallen in the previous two weeks.